Independent Director Acquitted of Convictions under the Securities and Futures Act

15 Aug 2012

In this landmark decision, the Chief Justice gave some much needed guidance and clarification on the disclosure regime and obligations under the Securities and Futures Act and the Singapore Exchange Listing Manual. In particular, the Chief Justice clarified that there is a distinction between the different concepts of materiality for the purpose of offences under sections 199 and 203 of the SFA on the one hand, and the offence under section 218 of the SFA.

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