The Monetary Authority of Singapore ( MAS ) has unveiled proposed legislative and regulatory changes aimed at making it easier for companies to pursue dual listings on the Global Listing Board ( GLB ), a newly created platform jointly developed by the Singapore Exchange ( SGX ) and Nasdaq.

The MAS hopes these proposals, now open for public consultation, will contribute significantly to strengthening Singapore’s position as a key global capital market.

First announced in November 2025, the GLB is intended to serve companies with a market capitalization of at least S$2 billion ( US$1.55 billion ), offering a coordinated pathway to tap both US and Asian investor bases. The proposed changes to Singapore’s Securities and Futures Act ( SFA ) are designed to reduce duplication and delay for firms navigating dual-listing requirements across the two jurisdictions.

One major reform would allow companies to use a single prospectus, provided it contains information consistent with US disclosure standards. This aims to reduce the administrative burden for issuers and promote a more unified documentation process.

Another proposal seeks to better synchronize the timing of initial public offerings ( IPOs ) in both Singapore and the United States. MAS plans to shorten Singapore’s registration timelines to allow IPOs to launch concurrently on both exchanges, improving operational efficiency and market reach for issuers.

A third key change involves the introduction of "safe harbour" provisions, similar to those already in place in the US. These would offer issuers legal protection when making forward-looking statements, conducting share buybacks, or executing pre-agreed trades, provided certain conditions are met. While these provisions shield companies from certain liabilities, they would not apply in cases involving fraud or dishonesty.

Beyond easing dual listings, MAS also proposes allowing all issuers, whether listing on GLB or not, to engage retail investors earlier in the IPO process. This would give investors more time to understand the offer and participate meaningfully, while helping issuers build demand during bookbuilding.

While the regulatory framework aims to bring Singapore’s markets in closer alignment with international standards, MAS and SGX will continue to retain full authority over listing approvals, prospectus registration, and enforcement of market conduct rules.

The consultation period runs until February 8 2026, and SGX RegCo has released a parallel consultation paper outlining specific listing rules for the GLB.