MAS Singapore issues Consultation paper on Proposed Guidelines on AI Risk Management, urging FIs to identify, assess and manage AI risks responsibly – feedback due by 31 Jan 2026

The consultation paper sets out MAS’s supervisory expectations that all financial institutions maintain clear governance and board-level oversight of AI risk, establish robust systems for identifying and inventorying AI applications, and conduct risk materiality assessments based on impact, complexity and reliance. It further requires proportionate lifecycle controls covering data quality, fairness, transparency, human oversight and third-party risk, as well as sufficient organisational capabilities to support safe AI deployment…