MAS Announces Establishment of Culture and Conduct Steering Group
MAS and the Association of Banks in Singapore announced establishment of the Culture and Conduct Steering Group (CCSG) to promote sound culture and raise conduct standards among banks in Singapore. CCSG, which is chaired by Shee Tse Koon, the Singapore Country Head of DBS Bank, comprises members from 12 other banks in Singapore that have responsibilities in business, risk management, compliance and human resource.
A G30 report on banking conduct and culture had highlighted that industry-wide dialog and sharing of best practices are key to a stronger and healthier banking industry. The CCSG will provide a platform for such exchanges within the banking industry in Singapore. MAS, which is also a member of the CCSG, is intensifying its work with banks to strengthen ethical business practices, prudent risk-taking behavior, and risk management. The CCSG will serve as a platform for industry participants to:
- Identify best practices in the area of culture and conduct and share them with the wider industry to facilitate adoption
- Monitor trends and identify emerging conduct and culture issues in the industry
- Collaborate with MAS on initiatives to promote strong culture and conduct in the industry, including conducting industry self-assessments or updating industry codes of conduct, where necessary
Keywords: Asia Pacific, Singapore, Banking, Culture and Conduct Steering Group, Governance, Conduct Risk, Operational Risk, MAS
Previous Article
IMF Report States Colombia to Introduce Basel Standards from 2020-24Related Articles
|
News
US Agencies Consult on Capital Treatment of Land Development LoansUS Agencies (FDIC, FED, and OCC) issued a proposed rule on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the regulatory capital rule.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Second Update for July 2019Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published answers to five questions related to supervisory reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
ESMA Updates Manual for European Single Electronic Format in EUESMA updated the reporting manual for European Single Electronic Format (ESEF).
July 12, 2019
WebPage
Regulatory News
|
|
News
FED Updates Supplemental Instructions for Reporting Form FR Y-9CFED updated the supplemental instructions for FR Y-9C reporting.
July 12, 2019
WebPage
Regulatory News
|
|
News
EBA Publishes Report on Monitoring Implementation of LCR in EUEBA published its first report on the monitoring of the implementation of liquidity coverage ratio (LCR) in EU.
July 12, 2019
WebPage
Regulatory News
|
|
News
EIOPA Consults on Reporting and Disclosures Under Solvency II ReviewEIOPA launched a consultation package on supervisory reporting and public disclosure in the context of its work linked with the 2020 Solvency II review.
July 12, 2019
WebPage
Regulatory News
|
|
News
APRA Applies Additional Capital Requirements to Three Australian BanksAPRA is applying additional capital requirements to three major banks in Australia to reflect higher operational risk identified in their risk governance self-assessments.
July 11, 2019
WebPage
Regulatory News
|
|
News
IMF Report on 2019 Article IV Consultation on Euro Area PoliciesIMF published its staff report in context of the 2019 Article IV consultation on euro area policies with member countries.
July 11, 2019
WebPage
Regulatory News
|
|
News
FSB to Survey Practices on Cyber Incident Response and RecoveryFSB launched a survey on the industry practices on cyber incident response and recovery.
July 11, 2019
WebPage
Regulatory News
|
|
News
ECB Appoints New Members of Supervisory BoardThe Governing Council of ECB appointed Edouard Fernandez-Bollo, Kerstin af Jochnick, and Elizabeth McCaul as representatives to the Supervisory Board of ECB Banking Supervision, for a five-year non-renewable term.
July 11, 2019
WebPage
Regulatory News
|
