On 7 May 2026, the Securities and Futures (Amendment) Bill (Bill) was read for a second time in Parliament and passed. As we previously set out here, the Bill amends the Securities and Futures Act 2001 (SFA) to: (a) enable regulations to be made to modify the SFA and its subsidiary legislation to support dual listing arrangements between Singapore Exchange Securities Trading Limited (SGX-ST) and an overseas exchange; (b) enable issuers of capital markets products to engage all investors earlier in the initial public offering process; and (c) provide that, in relation to an offer of sponsored depositary receipts by a depositary, the issuer of the underlying securities is required to comply with all requirements relating to the prospectus, instead of the depositary. The Bill’s provisions will come into operation on a date that the Minister appoints by notification in the Gazette.
At the second reading of the Bill, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore (MAS), Mr Chee Hong Tat highlighted that the Bill, among other things, supports the new Global Listing Board, an “innovative listing bridge” to be established by SGX-ST and Nasdaq Stock Market (Nasdaq) which provides issuers a direct pathway to access capital across both markets with one prospectus and a harmonised set of rules.
This update sets out the salient features of the Bill as highlighted in the Minister’s second reading speech.
If you would like information and/or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
Gail ONG
Head – Equity Capital Markets
d +65 6416 8205
e gail.ong@wongpartnership.com
Click here to view Gail’s CV.
CHAN Sing Yee
Co-Head – Mergers & Acquisitions
d +65 6416 8018
e singyee.chan@wongpartnership.com
Click here to view Sing Yee’s CV.
Karen YEOH
Partner – Equity Capital Markets
d +65 6416 2482
e karen.yeoh@wongpartnership.com
Click here to view Karen’s CV.
James CHOO
Partner – Equity Capital Markets
d +65 6416 2418
e james.choo@wongpartnership.com
Click here to view James' CV.
ONG Kuan Chung
Partner – Equity Capital Markets
d +65 6416 2415
e kuanchung.ong@wongpartnership.com
Click here to view Kuan Chung’s CV.