Doing what is right and ethical
MAS Guidelines on Individual Accountability and Conduct and Information Paper on Culture and Conduct Practices of FIs
FRIDAY, 25 SEPTEMBER 2020
12:00 pm – 1:00 pm (SGT)
On 10 September 2020, the Monetary Authority of Singapore (MAS) issued an Information Paper on the culture and conduct practices of financial institutions (FIs), which sets out nine culture and conduct outcomes (C&C Outcomes) for FIs to work towards to develop and entrench a strong culture of responsibility and ethical behaviour within their organisations. C&C Outcome 9 refers to MAS’ much-anticipated and long-awaited Guidelines on Individual Accountability and Conduct (IAC Guidelines), which have finally been issued and require FIs to work towards five accountability and conduct outcomes. While the IAC Guidelines are not markedly different from what was initially proposed by MAS, the challenges posed by the ‘new normal’ to the management of culture and conduct risk certainly are.
ASIFMA and Herbert Smith Freehills are pleased to invite you to join a webinar on Friday, 25 September 2020 from 12:00pm – 1:00pm where Asia Financial Services Regulatory Partner, Natalie Curtis, Asia Employment, Pensions and Incentives Partner, Fatim Jumabhoy, and Morgan Stanley’s Executive Director and Southeast Asia Head of Compliance, Paul B. Szalajko, will share their experience of implementing similar culture and conduct risk management and accountability regimes in other jurisdictions and provide insights on what will be required to comply with the IAC Guidelines and promote a culture of ethical behaviour. ASIFMA’s Patrick Pang will be moderating the session.
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