MAS director calls for firms to promote good governance
'Only so much central banks can do', as regulations shift towards strengthening firms' culture
A director from the Monetary Authority of Singapore (MAS) has said there is only so much the central bank can do to foster good conduct within financial institutions. Ultimately, firms have to make an effort.
“The MAS can design rules and supervisory approaches to foster the development of the right culture in financial institutions. But it is the efforts within firms that will make a real difference,” said Lee Boon Ngiap, assistant managing director at MAS.
Following the financial crisis
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