Disclosure with no transparency fails as fair dealing: MAS chief

Singapore

IT IS transparency, not disclosure alone, that defines proper fair dealing from financial institutions, said Monetary Authority of Singapore's (MAS) managing director Ravi Menon on Monday, as the regulator notes the "uneven" culture and conduct practices in the financial industry here.

Speaking at the Symposium on Asian Banking and Finance held in Singapore, Mr Menon said financial institutions must make the information they provide more transparent in at least three areas.