SINGAPORE: Trust in financial markets has not been fully restored
since the 2008 financial crisis. Regulators, industry players and
individual firms all have a role to play in restoring confidence of
market participants to ensure strength and stability in Singapore's
financial industry.
This was said at an industry conference jointly organised by the Monetary Authority of Singapore (MAS) and the Singapore Academy of Law on Friday (Jan 23).
Confidence in financial markets took a hit during the global financial crisis six years ago. However, it is still reeling from the fallout amid continued reports of mis-selling and benchmark manipulation by financial institutions.
Restoring the public's trust is critical and in this respect, MAS said it plays a supervisory role, making sure that remuneration policies motivate high ethical standards.
MAS' managing director, Mr Ravi Menon, said: "Going forward, we intend to conduct deeper-dive reviews, to examine how a firm makes compensation decisions in practice, as well as the extent to which the firm's board and management deal with issues relating to compensation and risk culture.”
Read more Click here / www.trade4x.net
This was said at an industry conference jointly organised by the Monetary Authority of Singapore (MAS) and the Singapore Academy of Law on Friday (Jan 23).
Confidence in financial markets took a hit during the global financial crisis six years ago. However, it is still reeling from the fallout amid continued reports of mis-selling and benchmark manipulation by financial institutions.
Restoring the public's trust is critical and in this respect, MAS said it plays a supervisory role, making sure that remuneration policies motivate high ethical standards.
MAS' managing director, Mr Ravi Menon, said: "Going forward, we intend to conduct deeper-dive reviews, to examine how a firm makes compensation decisions in practice, as well as the extent to which the firm's board and management deal with issues relating to compensation and risk culture.”
Read more Click here / www.trade4x.net
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