Singapore bankers counsel are calling for
a regional best practice outline on sponsor due diligence
move aims to address lack of consistency in the due diligence
approach of Singapore's issue managers.
has, in part, been prompted by the Hong Kong Securities and
Futures Commissions (SFC) recent efforts to more closely
monitor sponsor due diligence processes. It also follows the
publication of the SFCs March 2011 Sponsor Theme Report,
which highlighted relevant regulatory requirements applicable
to sponsors under the Hong Kong stock exchanges (HKEx)
Herbert Smiths Singapore-based corporate counsel
Siddhartha Sivaramakrishnan told IFLR that Singapores
global banks are in internal discussions to ensure they are all
on same page in terms of issue managers due...