Compliance Corner - Monetary Authority Of Singapore

Editorial Staff 13 February 2019

Compliance Corner - Monetary Authority Of Singapore

The latest compliance issues in wealth management across Asia-Pacific.

Monetary Authority of Singapore
The Monetary Authority of Singapore has created a body to promote good corporate governance practices among businesses listed in the Asian city-state.

The Corporate Governance Advisory Committee will be chaired by Bobby Chin, director of Singapore Telecommunications. The organisation was described by MAS as a “permanent, industry-led body”.

The CGAC “will play an important role in levelling up corporate governance standards and practices and help to strengthen investors’ confidence in our capital markets and uphold Singapore’s reputation as a trusted international financial centre”, MAS said in a statement yesterday.

One of the body’s jobs will be to spot current and potential risks, as well as keep track of global trends.

Members of the committee include Bahren Shaari, chief executive of Bank of Singapore; David Smith, head of corporate governance, Asia-Pacific, Aberdeen Standard Investments; Prudence Ann Bennett, former head of investment stewardship at BlackRock for Asia-Pacific; Hsieh Fu Hua, former chief executive of Singapore Exchange; David Gerald, president, Securities Investors Association (Singapore); Dr Mak Yuen Teen, associate professor of accounting, National University of Singapore.

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