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MAS to engage FIs more to help shape an ethical culture

Focus is on getting them to build positive cultures that reward behaviour that is right, not just legal

Published Mon, Mar 6, 2017 · 09:50 PM

Singapore

FINANCIAL institutions (FIs) can expect the Monetary Authority of Singapore (MAS) to engage them more regularly on what they are doing within their organisation to shape the right culture - a key driver of good conduct.

The regulator wants to look beyond a compliance-and-control framework to assess whether FIs have a supportive culture that applauds employees and agents for doing the right thing, "rather than just doing what is legal".

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