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The Monetary Authority of Singapore opened a consultation on 30 September on targeted updates to corporate-governance rules for banks, insurers and designated financial holding companies. Proposals include clearer tests for director independence, larger minimum boards and a majority of independent directors at domestic systemically important banks and insurers and full banks.
MAS also proposed prior approval for selected senior appointments, including some nomination-committee chairs and chief information officers at domestic systemically important banks. For firms with lower systemic importance or retail reach, it would remove prior-approval requirements for certain appointments. The consultation closes on 9 December 2026.