Why did SGX split its chief regulatory and risk officer role?

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SGX Divides Regulatory and Risk Chief Officer Role Following Penny Stock Crash

Singapore Exchange Ltd (SGX) has split the position of its chief regulatory and risk officer into two distinct roles, a decision that follows a significant penny stock crash. This move comes as the crash prompted scrutiny regarding the exchange's regulatory oversight capabilities. The retiring chief regulatory and risk officer, Yeo Lian Sim, who has been with SGX since July 2004, will transition to a special advisor role at the end of the year.
Leadership Changes in Regulatory and Risk Functions

Following Yeo Lian Sim's retirement, her responsibilities will be divided between two senior executives. Richard Teng, previously the deputy chief regulatory officer since January 2012, will assume the title of chief regulatory officer. Agnes Koh, currently the head of risk clearing, will take on the position of chief risk officer, managing the risk oversight functions.
Scrutiny Over Regulatory Abilities

The decision to restructure the leadership of these critical functions was prompted by the volatility observed in the share prices of three interconnected Singaporean companies last month. This market event led to questions about whether SGX had identified potential warning signs and acted with sufficient promptness in its regulatory capacity.
Ongoing Regulatory Review

In parallel with SGX's internal restructuring, the Monetary Authority of Singapore is undertaking its own review of the circumstances surrounding the penny stock crash. This external review indicates a broader examination of the market event and its implications for regulatory frameworks within Singapore.

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Why did SGX split its chief regulatory and risk officer role?

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