OREANDA-NEWS. Singapore Exchange Ltd (SGX) on Friday said Richard Teng was stepping down as chief regulatory officer, and that the head of Singapore's white-collar crime police, Tan Boon Gin, would be his replacement, effective June 15. Tan is currently director of Singapore's commercial affairs department.

Yeo Lian Sim, special adviser to SGX and previously chief risk and regulatory officer, will fill the position in the interim from March 1.

The announcement follows news that Chief Executive Magnus Bocker is to step down in June after five and a half years, during which the bourse suffered a damaging penny stock crash that hit trading volumes.