SGX strengthens regulatory team 14 June 2011Singapore Reporter: Steven Lafferty
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Singapore Exchange has strengthened its Risk Management and Regulatory (RMR) team with new appointments to maintain robust regulation in today’s rapidly changing financial landscape. The enhanced RMR functions include “Regulation”, “Risk Management”, “Clearing Risk”, and “Regulatory Development & Policy”. The changes are effective from 1 July 2011.
New Roles, New Responsibilities
Richard Teng is appointed as head of regulation with expanded responsibilities in overseeing Issuer Regulation, Catalist Regulation, Member Supervision, Market Surveillance and Enforcement. Teng’s new role will focus on the supervision of issuers, market participants and intermediaries. He joined SGX in 2007 as head of issuer regulation and chief of staff for the RMR team. In his new role, Teng will closely support Yeo Lian Sim, the chief regulatory officer, to fulfill and uphold SGX's regulatory standards.
In addition to Teng, Kelvin Koh is appointed as head of market surveillance and Annie Ong as acting head of enforcement.
With increased focus on risk management, Agnes Siew is appointed as head of clearing risk and is responsible for the formulation of risk frameworks for new products and services. The risk management function will assess the risk frameworks and continue to be responsible for risk monitoring and management of clearing members and over-arching risk policies.
The former Regulatory Policy unit has been expanded to include legal functions related to regulation in
order to provide a more holistic perspective in regulatory formulations. The expanded unit, known as the
“Regulatory Development & Policy” function, is headed by Mohamed Nasser Ismail.
“Sound regulation is integral to the attractiveness of our markets. We will maintain the high regulatory
standards and effective risk management that are important for our trading and clearing services,” said Lian Sim, chief regulatory officer, Singapore Exchange.
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