29 September 2020

Financial Institutions in Singapore to Ensure a Culture of Responsibility and Accountability Applies from the Top Down

The MAS has issued its finalised Guidelines on Individual Accountability and Conduct, which will come into effect on 10 September 2021. Most financial institutions regulated by the MAS will be covered by the new Guidelines. They will accordingly need to clearly identify and delineate the responsibilities of senior management and material risk personnel. This bulletin will focus on the key features of the Guidelines and consider the steps that can be taken to comply with the new regime.

Jason Denisenko +612 9373 7809
Partner, Sydney jason.denisenko@allenovery.com
Michael Shepherd +61 2 9373 7643
Partner, Sydney michael.shepherd@allenovery.com
Charlotte Robins +852 2974 6986
Partner, Hong Kong charlotte.robins@allenovery.com
Matt Bower +852 2974 7131
Partner, Hong Kong matt.bower@allenovery.com
Shuhui Kwok +65 6671 6065
Counsel, Singapore shuhui.kwok@allenovery.com
Calum Burnett +44 20 3088 3736
Partner, London calum.burnett@allenovery.com
Sarah Hitchins +44 20 3088 3948
Partner, London sarah.hitchins@allenovery.com

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