Informs locally incorporated insurers on the issuance of the revisions to the Guidelines on corporate governance for designated financial holding companies, banks, direct insurers, reinsurers, and captive insurers which are incorporated in Singapore ("CG Guidelines"), and MAS’ response to the feedback received following the consultation on the CG Guidelines.
Guidelines on Corporate Governance
These guidelines apply to all designated financial holding companies, banks, direct insurers, reinsurers and captive insurers incorporated in Singapore (collectively, "financial institutions").
They provide guidance on good corporate governance practices that financial institutions should observe in relation to Board matters, remuneration matters, accountability and audit, shareholder rights and engagement, managing stakeholder relationships, and oversight of related party transactions.
MAS has set out the compliance approach for different categories of financial institutions under these guidelines. Where applicable, financial institutions should disclose their corporate governance practices and explain variances from the guidelines in their annual reports or on their company websites.