To provide greater clarity on the existing misconduct reporting requirements for representatives and broking staff, and enhance standards of investigations on misconduct, MAS will be revising the misconduct reporting regime. Further, to standardise industry practices on due diligence conducted on prospective representatives and broking staff, MAS will be mandating financial institutions to perform and respond to reference check requests, with a list of baseline mandatory information that must be obtained or provided in the reference check.
Episode 12: Singapore – MAS Revises Technology Risk Management Guidelines The Monetary Authority of Singapore (MAS) recently revised its Technology Risk Management Guidelines 2021 after feedback from a 2019 public consultation and engaging with cyber security experts. In this episode, Stephanie Magnus, Ken Chia, and Ying Yi Liew take a closer look at compliance, regulator expectations, cyber threats, and other important considerations — taking into account that financial institutions encompass large multinational banks, insurance companies and small fintech startups.
Episode 11: Fintech – Trends, Investments, and M&A In this episode, We share observations on recent innovations and take a closer look at various strategies behind the increase in investment and M&A activity. Fintech players, once seen as market disruptors, are becoming essential and critical in the future of financial institutions.