SINGAPORE (Sept 10): The Monetary Authority of Singapore (MAS) has issued guidelines on individual accountability and conduct to promote accountability and ethical behaviour among senior managers performing key functions in financial institutions.

The guidelines, which were released on September 10, were accompanied by an information paper on good practices in these areas. It also sets out the central bank’s expectations through five outcomes for financial institutions.

These include clearly identifying senior managers who are responsible for managing and conducting the institution’s core functions, having a clear and transparent management structure and reporting relationships for senior managers, and that individuals who have the authority to make decisions or conduct activities that can significantly impact the safety and soundness of the institution, are fit and proper for their roles ... (click on link for full story on theedgesingapore.com).