Friday 1 February 2013

MAS regulator in Singapore plans ERM risk improvements

“The Monetary Authority of Singapore (MAS) intends to improve standards for enterprise risk management (ERM) at all financial institutions (FIs) under its control, it says, as well as review the current risk-based capital regime. MAS has issued a notice of new guidelines, which are now out for public consultation and are expected to be implemented by 1 January 2014.

The risk proposals from MAS cover credit risk, market risk, internal controls, operational risks, liquidity and other risks arising from a company's membership in a group, and core insurance activities such as product development, pricing and underwriting are a particular focus. The Singaporean regulator said the rules are expected to apply to all registered insurers except captive insurers and marine mutuals.” <<READ MORE>>
 
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