Notices
Notice FHC-N106 Appointment of Director, Chairperson, Member of Nominating Committee, and Key Executive Person
Requirements and guidelines on the appointment of director, chairperson and key executive person for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
Applies to:
Financial Holding Company (Insurance)
This Notice applies to all DFHCs (Licensed Insurer). It sets out the requirements and guidelines for DFHCs (Licensed Insurer) to:
- Seek MAS' approval for the appointment of any director, chairperson or key executive person.
- Notify MAS of any additional directorship or key executive person role taken up by a key executive person.
- Ensure that the proposed appointees for the appointment of directors and key executive persons are fit and proper to fulfil their roles and responsibilities.
Amendment Notes
Related to this Notice
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Subsidiary LegislationPublished Date: 29 June 2022
Financial Holding Companies (Corporate Governance of Designated Financial Holding Companies with Licensed Insurer Subsidiary) Regulations 2022
Corporate governance requirements for designated financial holding companies that has a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer)), including the independence of directors, composition of the board of directors and board committees, and their responsibilities.
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GuidelinesLast Revised Date: 09 November 2021
Guidelines on Corporate Governance
Guidelines on corporate governance for financial institutions incorporated in Singapore.
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GuidelinesPublished Date: 28 June 2021
Guidelines on Fit and Proper Criteria [FSG-G01]
Guidelines on fit and proper criteria for all relevant persons carrying out any activity regulated by MAS.
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GuidelinesLast Revised Date: 28 June 2021
Guidelines on Risk Management Practices – Board and Senior Management
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
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CircularsPublished Date: 10 May 2021
ID 09/21 Consultation on Revisions to the Guidelines on Corporate Governance
Informs locally incorporated insurers on the release of the consultation paper on the proposed revisions to the guidelines on corporate governance for designated financial holding companies, banks, direct insurers, reinsurers, and captive insurers which are incorporated in Singapore