“The US system, with its class actions and the Securities and Exchange Commission’s (SEC) Fair Funds programme, is a strong deterrent,” adds Sivakumar.
Should the Monetary Authority of Singapore’s (MAS) upcoming measures to enhance avenues for investor recourse go the way of the US — where class action lawsuits are commonplace — or model itself after Malaysia, where institutional investors help keep issuers in check?
Several international markets provide valuable lessons — both positive and cautionary — as Singapore designs its own measures, says P. Sivakumar, director at BR Law Corporation.
