See also The Association of Banks in Singapore Culture & Conduct Steering Group
The Monetary Authority of Singapore (MAS) has consulted on its proposed set of guidelines to strengthen the individual accountability of senior managers and raise standards of conduct in financial institutions1. Under the proposed guidelines, senior managers must be designated as responsible and accountable for the conduct and business operations within their organization, must operate under a clear governance and oversight framework, and be assessed under an “outcomes based approach” rather than a tick-box checklist.2 Further, to reduce the chances of “rolling bad apples”—or malfeasant individuals moving from one organisation to another— MAS will propose mandatory reference check requirements for financial institutions.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion