MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON THE ROYAL BANK OF SCOTLAND GROUP PLC FOR FAILING TO NOTIFY THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS WITHIN STIPULATED TIMEFRAME

                


1       On 11 July 2011, The Royal Bank of Scotland Group PLC ["RBS Group"] paid a composition amount of $2,500 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of changes in their shareholdings.

2       RBS Group was late in notifying SGX-ST of the changes in its deemed shareholdings in China Enersave Limited ["China Enersave"] which took place on 1 September 2010 and 6 September 2010.  RBS Group was also late in notifying China Enersave of the above-mentioned changes.  As a result, China Enersave was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.


Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.

Last Modified on 26/11/2016