Good Culture and Conduct
SIAS Corporate Governance Conference
6 November 2023
MAS’ then-Managing Director, Mr Ravi Menon, gave the opening address at the Corporate Governance Conference organised by the Securities Investors Association (Singapore). Underscoring trust as the bedrock of the economy, Mr Menon exhorted the corporate sector to build trust by doing well, doing right and doing good.
MAS’ response to consultation feedback on proposals to mandate reference checks
12 December 2023
MAS has responded to the feedback received on proposals to mandate reference checks for representatives in the financial advisory industry. FIs will be required to conduct and respond to, within 21 days, reference checks on specified employees. This is to enable an FI to consider information on any individual’s prior misconduct before making a hiring decision, and aims to uplift the quality of hiring practices across the financial sector.
ASEAN Corporate Governance Scorecard
23 January 2024
MAS’ Assistant Managing Director (Capital Markets), Mr Lim Tuang Lee gave the opening remarks at the briefing for SGX-listed companies on the ASEAN Corporate Governance Scorecard. The Scorecard aims to promote good corporate governance practices and give greater international visibility to well-governed companies in ASEAN. Mr Lim noted the improved scores of Singapore companies, and emphasised the relevance of the Scorecard for directors, investors, and regulators.
Speech at Life Insurance Association (LIA) Annual Luncheon
15 March 2024
MAS’ Deputy Managing Director (Financial Supervision), Ms Ho Hern Shin spoke at the LIA Annual Luncheon. She highlighted the importance of treating customers right and how life insurers could apply fair dealing in product design, underwriting, sales and advisory, and post-sales services.
Revised Guidelines on Fair Dealing
30 May 2024
MAS has responded to public feedback and issued the revised Guidelines on Fair Dealing which has been extended to all financial institutions (FIs) and all financial products and services offered by them to all their customers. The revised Guidelines build upon the principles and fair dealing outcomes expected of FIs that provide advisory and sale of investment products. FIs should duly consider the needs and interests of customers and take active steps throughout every aspect of their business to achieve this, from product design and governance, to marketing and sales, and in the provision of after-sales services and complaints handling.