Notice 1011 Appointment of Chief Executives [Cancelled]
Requirements for all merchant banks on the appointment of chief executive and deputy chief executive.
This notice applies to all merchant banks. It sets out the requirements on:
- Appointment of its chief executive and deputy chief executive.
- Responsibilities of the directors, chief executives and deputy chief executives.
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.
Requirement for directors, employees and agents of all merchant banks to not wilfully make a false entry, omit to make an entry, or alter, conceal or destroy an entry in any books, statements or records of the merchant bank.
Requirement for directors and chief executives of all merchant banks to take all reasonable steps to secure compliance with MAS regulations and accuracy of statements submitted to MAS.
Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
Establishes the Monetary Authority of Singapore (MAS) and gives it the authority to regulate the financial services sector in Singapore.