SINGAPORE (April 11): Singapore Exchange last night announced the appointment of six and two new members to its independent disciplinary committee and appeals committee respectively.

The new appointments to the disciplinary committee are:
• Cavinder Bull, Senior Counsel, Director, Dispute Resolution and Co-head, Competition Law & Regulatory Practice, Drew & Napier LLC, as the Co-Chairman;
• Tan Chong Huat, Senior Partner, RHTLaw Taylor Wessing LLP, as the Deputy Chairman;
• Cheng Ai Phing, Director, GIG Consulting, as a member;
• George Lee, Senior Adviser, OCBC Bank (M) Bhd, as a member;
• Tommy Tan, Chief Executive Officer, TC Capital, as a member; and
• Soh Gim Teik, Partner, Finix Corporate Advisor LLP, as a member.

The new appointments to the Appeals Committee are:
• Chan Leng Sun, Senior Counsel, Head, Dispute Resolution in Baker McKenzie. Wong & Leow and Global Head, International Arbitration, Baker McKenzie, as the Deputy Chairman; and
• Kan Yut Keong Benjamin, Managing Director of Cornerstone Advisors, as a member.

The disciplinary committee hears charges brought by SGX against persons who have breached SGX’s listing, trading or clearing rules. The committee is able to impose a wide range of sanctions, including issuing public reprimands, imposing fines against issuers, sponsors, registered professionals, trading members, trading representatives and clearing members, denying issuers’ access to the market place, and requiring resignation of directors or executive officers.

The appeals committee hears appeals against certain decisions of SGX made under the listing rules and appeals against decisions of the disciplinary committee. The appeals committee can uphold, reverse or vary decisions of SGX or the disciplinary committee.

The appointments were made in consultation with the Monetary Authority of Singapore.

The new appointees replace members who have recently retired or who will be retiring after having served for about 9 years or more on the respective committees.

In Nov 2016, Hamidul Haq and Mr Leong Mun Wai retired as deputy chairmen, while Kan Shik Lum, Lam Chee Kin and Mah Kah Loon retired as members from the disciplinary committee; George Lee, Michael Wong Ping Seng and Hugh Young retired as members from the appeals committee. The current disciplinary committee co-chairman, Eddie Tan, will retire in May 2017.

Shares of SGX closed 3 Singapore cents lower at S$7.63 on Monday.