From left: SIAS president and CEO David Gerald, Education Minister and MAS board member Ong Ye Kung, and SIAS honorary chairman Daniel Teo at the launch of the annual week-long Singapore Corporate Governance Week.OBSESSING over rules and regulations may cause companies to lose sight of the outcomes of good corporate governance, Monetary Authority of Singapore board member Ong Ye Kung said on Monday.
The first is that rules need to cater to the rapid advancement of the technology that is disrupting industry and market activities, while remaining technologically neutral. Mr Ong again cited the SFA, which has multi-tier rules applicable to various entities and the nature of their activities. Its focus has since shifted towards giving the schools room to develop their own innovative practices.
Opponents of quarterly reporting say it over-emphasises short-term results at the expense of long-term strategies, and imposes high compliance and cost burdens.
Source: News Formal (newsformal.com)
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