MAS Corporate Governance Consultation

On 14 June 2011, the MAS Corporate Governance Council (“Council”) released a consultation paper on proposed revisions to the Code of Corporate Governance (“Code”) which applies to Singapore listed companies on a ‘comply or explain’ basis.

The consultation paper sets out the key proposals recommended by the Council, as summarized in the Annex. The key proposals focus on director independence, board composition, director training, multiple directorship, alternate directors, remuneration practices and disclosures, risk management.

Comments on the proposals are due by 31 July 2011.

Further details, including link to the consultation paper are available here.