Stefanie Yuen Thio was quoted in The Business Times (BT) and Lianhe Zaobao (LHZB) on the new measures introduced by the Monetary Authority of Singapore (MAS).

In BT, reporter Jude Chan’s story quoted Stefanie in her capacity as joint managing partner at TSMP Law Corporation and said that she sees the MAS proposals as “good developments” overall. She noted that they have been calling for change for some time – including legal statutory amendments – to help resolve the “frictions” faced by retail investors. These include scant information available to shareholders, difficulties in access to rally other shareholders, and limited legal avenues to pursue a class action lawsuit.

Stefanie highlighted that MAS’ suggested changes will address a lot of these issues by helping to defray the costs and allowing representatives to carry out litigation on behalf of a class of investors are good developments. She added that in tandem with this, the law needs to change to give investors more access to information that would add substance to the litigation case.
This article was syndicated in Singapore Law Watch on July 22.

In LHZB, reporter Lewis Ong quoted Stefanie saying she believes that the reforms proposed by the MAS will solve many problems encountered by retail investors. Stefanie also pointed out that the information currently available to shareholders is scarce and Singapore needs to amend the law so that investors can obtain more information. These include obstruction from listed companies when they want to convene a general meeting of shareholders, and personal data protection regulations that make it impossible for minority shareholders to send notices of general meetings to other shareholders.