The Monetary Authority of Singapore (“MAS”) Corporate Governance Framework, which comprises regulations and guidelines for locally-incorporated banks, financial holding companies and direct insurers, was first implemented in 2007.  Since then, there has been increased emphasis on effective corporate governance internationally.  The recent financial crisis has further highlighted the importance of effective risk management oversight at the Board level.  MAS intends to enhance the existing Framework, and has issued its final recommendations which incorporates feedback received from public consultation.