MAS’ advisory committee to review governance code

The review aims to enhance the transparency and market appeal of listed companies.

The Corporate Governance Advisory Committee (CGAC) will review the Code of Corporate Governance (CG Code), the Monetary Authority of Singapore (MAS) announced.

The review aims to strengthen established good practices in corporate governance and disclosures amongst listed companies whilst complementing the ongoing efforts of the Equities Market Review Group.

Two sub-committees will work with the CGAC to enhance the implementation of the CG Code and explore new provisions relating to corporate culture, board effectiveness, and risk management in emerging areas.

Industry experts have also been invited to share their insights with the Sub-Committees as part of the review. The Sub-Committees will conduct focus group discussions to gather feedback.

“The objective is to make our listed companies more transparent and attractive in the capital market without unduly over-burdening them with inconsequential reporting guidance or requirements,” Bob Tan, chairman at CGAC said.