MAS’ accountability guidelines - navigating implementation

Watch our webinar on the recent launch of the IAC Guidelines, the implications on firms’ current governance arrangements as well as some of the lessons learned from the UK on implementation and recent enforcement actions.

MAS issued its Guidelines on Individual Accountability and Conduct (IAC Guidelines) on 10 September 2020, as part of their push to embed a strong culture of responsibility and ethical behavior in financial institutions (FIs). This will take effect from 10 September 2021.

The IAC Guidelines outline measures that FIs should implement to promote accountability of senior managers, strengthen oversight over material risk personnel and reinforce standards of proper conduct among all employees.

This development follows similar regulatory changes in the United Kingdom, Australia and Hong Kong targeting culture reform. Penny Miller from our London Regulatory team will share lessons learnt and observations based on the implementation of the UK Senior Managers Regime.

> View the webinar on demand

Also read our article about the key takeaways from the IAC guidelines.