Regulatory Alerts2018-08-08
Added
Guidelines on the Interpretation of Persons who Commonly Invest in Division 3 of Part XII of the Securities and Futures Act
The Monetary Authority of Singapore issues these guidelines to clarify the statutory definition of Common Investors under Section 214 of the Securities and Futures Act, replacing the previous judicial interpretation. The document establishes that Common Investors are product-specific sections of the public accustomed to dealing in relevant securities, encompassing retail, accredited, expert, and institutional investors. It further details how this definition applies to insider trading provisions, requiring information to be accessible to all relevant investor classes and recognizing that material price effects may influence only specific subsets of these investors.
Topics
securities
market-abuse
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