Singapore’s deputy prime minister and minister of finance, Lawrence Wong, has been appointed as chairman of the Monetary Authority of Singapore (MAS).
Wong replaces Tharman Shanmugaratnam, who has announced a run for the Singapore presidency in the upcoming elections.
Wong has also served as MAS deputy chairman for the last two years and will be succeeded current minister of trade and industry Gan Kim Yong.
The appointments coincide with the regulator’s launch of a public consultation on an industry code of conduct for providers of ESG ratings and data products.
According to MAS assistant managing director (capital markets) Lim Tuang Lee, the industry code “is critical for more accurate market pricing signals related to climate risks and opportunities” and will give greater confidence to market participants and investors, said Lim.
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