Stefanie Yuen Thio was quoted in Lianhe Zaobao by Tan Chee Yun, in an article on the streamlining of prospectus disclosures to draw more IPOs.

Stefanie pointed out that companies interested in listing locally have long complained that the review methods of our regulators are still too restrictive in today’s disclosure market. She added that the decision to move further towards a disclosure-based regime while continuing to monitor financial and management integrity is a good one.
Stefanie also noted that these changes address key friction points, and if a disclosure-based regime is indeed adopted, investment decisions should be made by the market rather than relying on regulators to act as strict gatekeepers.

She believes that if the market shifts to being based on information disclosure, investors need to better understand the business and performance of the companies they invest in and be prepared to take action against companies that violate regulations. In this regard, the legal system must provide more convenient channels for rights protection so that they can obtain information and seek compensation.