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Accountability regime for senior managers of financial institutions in Singapore

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29 September 2020

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.

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