WOTC - Approval of new securities

I asked this question in the Wisdom of the Crowd:

How can MAS strengthen its approval process for new securities?

Here are the responses: (55 Votes)

44 % - MAS should appoint an independent rating firm to rate the securities. The fee will be paid by the issuing company.
29 % - The MAS officer should study the prospectus in detail and ensure that it reflects the true position of the company issuing the securities.
20 % - MAS should reject securities that they consider to be risky.
7 % - The current process is satisfactory. Investors should study the prospectus before buying the securities.

See the pie chart at: 
http://www.wisdomofthecrowd.sg/chart.aspx?ID=1295