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On April 7, 2026, Singapore's Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore (MAS), Chee Hong Tat, moved the Securities and Futures (Amendment) Bill 2026 for First Reading in Parliament on behalf of Deputy Prime Minister and Minister-in-charge of the MAS, Gan Kim Yong. The Bill seeks to implement a regulatory regime for the Global Listing Board (GLB), a dual-listing platform that Singapore Exchange Securities Trading (SGX) and Nasdaq Stock Market (Nasdaq) will establish. The GLB enables issuers to simultaneously list on both exchanges under a streamlined regulatory framework. The Bill also grants MAS flexibility to adopt similar frameworks for dual-listing arrangements with other overseas exchanges in future. The Bill introduces a new Part 13A into the Securities and Futures Act 2001 (SFA), empowering MAS to make regulations facilitating dual-listing boards through a streamlined process. Key amendments include: MAS may declare an overseas exchange as a "prescribed overseas exchange" and a dual-listing board as a "prescribed DLB"; MAS may make regulations to replace, modify, or disapply offer-related and market misconduct provisions in the SFA to harmonise differences between Singapore's securities laws and foreign jurisdictions; and safe harbours available in foreign jurisdictions may be provided, though these do not apply to fraud or dishonesty. Additional amendments apply to all offers generally. Issuers may now disseminate preliminary prospectuses when marketing to retail investors, subject to safeguards including a prohibition on official offers based on preliminary prospectuses. For sponsored depositary receipt offers, the issuer of underlying securities, rather than the depositary, must register the prospectus, ensuring investors receive information about the issuer. MAS conducted public consultation on key amendments, with comments incorporated into the Bill. The criteria MAS will consider when prescribing a dual-listing board include whether the overseas exchange enhances issuers' access to liquidity and international investors, and operates in a jurisdiction with securities laws aligned with international standards in disclosure, enforcement, and regulatory co-operation. REFERENCES: Monetary Authority of Singapore. "Explanatory Brief: The Securities and Futures (Amendment) Bill 2026." Published April 7, 2026. Available at: https://www.mas.gov.sg/