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SGX introducing new templates for new product disclosures

The Singapore Exchange (SGX) is introducing a new set of templates for new product disclosures to enhance the readability of term sheets for warrants, debentures and funds.

SGX said a consistent presentation of product features and risks will help investors have a clear and efficient comparison of competing products in the market.

As such, it is requiring issuers to use the guidelines and term sheet formats beginning August 1 this year.

The disclosure templates will apply to the term sheets for debt issues of asset-backed securities, exchange traded notes and structured notes.

It will also cover funds including collective investment schemes and exchange traded funds and structured warrants.

With the practice notes, SGX said that products that do not come with registered prospectus under the Monetary Authority of Singapore can now have their features and risks disclosed in standardised formats

SGX said the new guidelines are in line with the central bank’s initiatives to improve disclosure through the use of product highlight sheets.

The practice notes are made available through the SGX website under the SGX Rulebooks – Rule Amendments.

Adapted from CNA ( By Millet Enriquez ).

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