MAS consults on changes to corporate governance framework

The Monetary Authority of Singapore (MAS) has opened a consultation on proposed enhancements to its corporate governance regulations and guidelines for locally incorporated banks, financial holding companies and insurers.

The regulator says the financial crisis has highlighted the importance of effective risk management oversight at board level and wants to update its governance framework, which was established in 2007.

“One of the lessons from the recent financial crisis is the importance for i