Currenc Group (IFIN) names independent director Kevin Chen to audit committee
Rhea-AI Filing Summary
Currenc Group Inc. reported that its board has determined director Kevin Chen now qualifies as an independent director under Rule 10A-3, the Sarbanes-Oxley Act, Nasdaq rules and the company’s governance guidelines. As a result, the board has appointed him as a member of the audit committee, effective immediately.
Mr. Chen is currently Chief Economist and Chief Investment Officer of Horizon Financial and has over 20 years of finance experience, including senior roles at Credit Agricole, Amundi Asset Management and Morgan Stanley. Following his appointment, the audit committee comprises Eng Ho Ng (Chair), Eric Weinstein and Kevin Chen, all of whom the board considers independent. The company states there are no special arrangements, family relationships or related-party transactions involving Mr. Chen that require disclosure.
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Insights
Audit committee strengthened with an additional independent director, a routine but constructive governance move.
The board of Currenc Group Inc. has reclassified existing director Kevin Chen as independent under Rule 10A-3, the Sarbanes-Oxley Act and Nasdaq rules, and added him to the audit committee. This aligns the committee composition with common U.S. and Nasdaq expectations that audit committee members be independent.
Mr. Chen brings more than 20 years of finance experience, including senior investment and asset allocation roles at large financial institutions, which is relevant to overseeing financial reporting and internal controls. The filing also clarifies that there are no special arrangements, family relationships or related-party transactions tied to his role, which supports perceived independence.
From an investor standpoint, this appears to be a standard governance update rather than a transformative change. It indicates attention to regulatory compliance and committee independence, but it does not on its own alter the company’s financial outlook or strategy.