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Clifford Chance

Regulatory Investigations and Financial Crime Insights

MAS issues proposal to heighten senior management accountability

Regulators around the world have been looking to the board and senior management of financial institutions (FIs) to ensure a strong culture of responsibility and ethical conduct within their organisations. Singapore is no exception.

With the proposed introduction of the Guidelines on Individual Accountability and Conduct (Guidelines), the Monetary Authority of Singapore (MAS) aims to strengthen the individual accountability of senior managers in FIs.