On 01 August 2014, the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) announced major changes to the securities structure and practices. The rules changes are aimed at reducing highly speculative trading, in light of the penny stock rout in last year. Below are the four major changes quoted from MAS' media release which may impact Singapore investors: (i) Minimum trading price. To introduce a minimum trading price of S$0.20 as a continuing listing requirement for issuers listed on the SGX Mainboard. This is to address risks of low-priced securities being more susceptible to excessive speculation and potential market manipulation. A transition period of 12 months will be given to affected issuers to undertake corporate actions to meet the new requirement. This proposal will, over time, improve the quality of issuers listed on the SGX Mainboard. (ii) Collateral requirement for securities trading. To require securities intermediaries to collect ......