Amended Stock Exchange Listing Rules Launched

It’s a new week and the South Pa­cific Stock Exchange (SPSE) have kicked it off with the implemen­tation of its amended SPSE Listing Rules approved by the Reserve Bank of Fiji yesterday.

SPSE chief executive officer, Krishika Narayan said in line with SPSE’s stra­tegic goal of increasing company and investor confidence, the Exchange reg­ularly reviews laws, rules, regulations, guidelines and policies for necessary and appropriate updates and amend­ments.

SPSE also regularly benchmarks its laws, rules and regulations against internationally acceptable standards while also customising them to suit the distinct characteristics of the Fiji market and as such continuously up­grades its regulatory manuscripts to address unprecedented issues and new products.

Ms Narayan’s key points:

• “in light of the introduction of Com­panies Act 2015, the SPSE has reviewed its Listing Rules to achieve the various objectives,
• including; the simplification of the existing rules for listed entities to make compliance effective yet ef­ficient;
• to incentivise unlisted companies to consider listing their securities on SPSE through enhanced compliance with Companies Act 2015;
• to modernise the existing Listing Rules in order to align to international best practices; to incorporate certain ‘must have’ provisions in the Listing Rules to protect stakeholder interests;
• and to redefine rights, powers and duties of SPSE as the frontline regula­tor of the stock market.”

Amended Listing Rules repeal

The amended Listing Rules repeal the existing Listing Rules which have been in effect since 1st September 2010.

The Exchange would like to thank listed company representatives, other market participants and the Reserve Bank of Fiji for their valuable com­ments and input on the amendments proposed by SPSE to its Listing Rules. “We look forward to your continued support in developing the regulatory framework of the stock market in a bid to provide a fair, orderly and efficient market for trading in securities listed on SPSE.

Should you require any further in­formation on the above subject, do not hesitate to contact the SPSE.

Feedback: maraia.vula@fijisun.com.fj