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Tenets of Effective Regulation
| Publisher | MAS (Monetary Authority of Singapore) |
| Topics | financial regulation, regional / country study |
| Author | - |
| Additional infos | - |
| Published on | June 8, 2010 |
| Pages | 44 |
The Monetary Authority of Singapore (MAS) has issued a monograph “Tenets of Effective Regulation” to communicate MAS’ approach to developing effective regulation.
The six Tenets are:
- Tenet 1: Outcome Focused
- Tenet 2: Shared Responsibility
- Tenet 3: Risk Appropriate
- Tenet 4: Responsive to Change and Cycles
- Tenet 5: Impact Sensitive
- Tenet 6: Clear and Consistent
These Tenets are intended to be generally applicable to all areas of the regulatory development work. The regulatory framework will be targeted at and sensitive to the risks it is aimed at, and more responsive to changes and risks in the industry. It will also be sufficiently flexible to set requirements that are commensurate with the risk profile and unique circumstances of particular financial institutions. Rules will be clear and not subject to frequent disruptive change as well as consistently applied to like activities conducted across sectors.
Source: MAS
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