SGX RegCo Advances Disclosure-Based Regime: Governance Standards and Board Quality Safeguards Retained

SGX RegCo confirmed in October 2025 the outcomes of its market consultation on a less prescriptive, disclosure-driven listing regime, explicitly retaining key qualitative admission criteria to ensure only issuers with strong governance and financial health are listed. The regulator will require clear board-level disclosure of conflicts of interest, and unmodified audit opinions remain mandatory. For SEA scale-up founders preparing for SGX listings or seeking to benchmark boardroom standards, this signals that governance quality — particularly board independence and transparent conflict management — remains a non-negotiable threshold, not a 'tick-box' exercise.