On 30 September 2026, the Monetary Authority of Singapore (MAS) launched a consultation seeking feedback on proposed amendments to the corporate governance regulations for banks, insurers and designated financial holding companies (DFHCs) incorporated in Singapore. The consultation closes on 9 December 2026.
The proposed changes address director independence, board composition, key appointments, and streamlined requirements for lower-impact financial institutions, and apply mainly to banks, direct insurers (other than marine mutual insurers), reinsurers and DFHCs incorporated in Singapore. Certain proposals also apply to bank branches and merchant banks.
In this update, our Co-Head of Financial Services Regulatory Elaine Chan, and Partners Tian Sion Yoong and Chan Jia Hui, highlight the key amendments of the consultation.
To view our update, please click here.
If you would like information and/or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:
Elaine CHAN
Co-Head – Financial Services Regulatory
d +65 6416 8010
e elaine.chan@wongpartnership.com
Click here to view Elaine’s CV.
TIAN Sion Yoong
Partner – Financial Services Regulatory
d +65 6416 2488
e sionyoong.tian@wongpartnership.com
Click here to view Sion Yoong’s CV.
CHAN Jia Hui
Partner – Financial Services Regulatory
d +65 6416 2794
e jiahui.chan@wongpartnership.com
Click here to view Jia Hui’s CV.