Key Supervisory and Regulatory Initiatives ENHANCING REGULATORY FRAMEWORKS Guidelines on IPO Due Diligence in Singapore In August 2004, the Singapore Investment Bankers Association (SIBA), with the support of MAS and SGX, launched the Guidelines on Due Diligence in the Context of an Initial Public Offering (IPO) in Singapore. The Guidelines set out SIBA's guidance to its members on the due diligence procedures relating to IPOs in Singapore. The Guidelines will help issue managers and underwriters in an IPO to better meet their responsibilities under the SFA and the SGX Securities Trading Listing Manual. As part of our ongoing supervision process, MAS will review the use of the Guidelines by corporate finance advisers as part of their internal due diligence framework. Following this review, MAS will work with SIBA to enhance the Guidelines as appropriate.