Requirement for disqualified directors and employees of all merchant banks to seek MAS’ written consent to continue their appointment or employment in the merchant bank.
Guidelines on Fit and Proper Criteria [FSG-G01]
These guidelines set out the fit and proper criteria that apply to all relevant persons carrying out any activity regulated by MAS. The relevant person is expected to be competent, honest, to have integrity and to be of sound financial standing.
The guidelines cover:
- Definitions of 'relevant persons' and scope of application.
- Criteria for considering if a relevant person is fit and proper.