“Corporate Governance – A Collaborative Effort” – Opening Address by Mr Ong Chong Tee, Deputy Managing Director, Monetary Authority of Singapore, at the 7th Corporate Governance Week on 26 September 2016

Date: September 26, 2016

Mr David Gerald, President and CEO of the Securities Investors Association Singapore (SIAS),

Distinguished guests, ladies and gentlemen

Thank you for inviting me to deliver this year’s Opening Address. Subjects relating to corporate governance always attract lively debates and discussions, and I have no doubt that it will be the case over the course of this Conference.

The theme of “Change and Innovation in Governance” underscores the dynamic nature of corporate governance (or CG) issues. The direction of change will most certainly be towards greater accountability, transparency and responsibilities of directors. Many will agree that old standards are not enough; or not good enough. Boards’ composition, for instance, will be subject to greater scrutiny with respect to independence, competence and diversity. I believe these are overall positive trends.

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