Best Practices for AI Governance and Risk Management Published for Singapore Financial Sector
In March 2026, the Monetary Authority of Singapore (“MAS“) and the Association of Banks in Singapore (“ABS“) released the following publications, respectively, aimed at guiding financial institutions in the responsible adoption of artificial intelligence (“AI“): The AI Risk Management Toolkit (“Toolkit“) released by MAS on 20 March 2026; and The Handbook on Generative AI Guardrails […]
Facilitating the Safe Adoption of AI – New Initiatives Unveiled at Committee of Supply 2026
Introduction As 2026 marches forward, and the Government sets out its roadmaps for national development programmes, one topic has continued to take a place in the spotlight – the development and deployment of artificial intelligence (“AI“). For example, at the unveiling of Singapore’s Budget 2026, AI stood as one of the key pillars, with […]
Supporting the Safe Adoption of Agentic AI – Singapore Launches New Model Governance Framework for Agentic AI
Introduction The Infocomm Media Development Authority of Singapore (“IMDA“) has launched a new Model Artificial Intelligence (“AI“) Governance Framework for Agentic AI (“MGF for Agentic AI“). This framework for reliable and safe agentic AI deployment is the first of its kind, giving organisations looking to deploy agentic AI a structured overview of the relevant risks […]
MAS Project MindForge: Driving Responsible Gen AI Innovation in Financial Services
On 13 November 2025, the Monetary Authority of Singapore (“MAS“) announced that Phase 1 of Project MindForge was concluded. Announced on 22 June 2023, Project MindForge is driven by the Veritas Initiative. The aims of Project MindForge are to: Examine the risks and opportunities of Generative Artificial Intelligence (“Gen AI“) technology for financial services. Develop a clear […]
UK-Singapore Strategic Partnership: Empowering AI in Finance
To support safe and responsible artificial intelligence (“AI“) innovation, on 12 November 2025, the Monetary Authority of Singapore (“MAS“) and the United Kingdom (“UK“) Financial Conduct Authority (“FCA“) announced a new strategic partnership on AI in Finance (UK-Singapore AI-in-Finance Partnership). The Partnership will empower AI solution providers in Singapore and innovators in the UK […]
Strengthening Singapore-India Relations: Adoption of a New Roadmap for the Comprehensive Strategic Partnership
Introduction Singapore and India have long enjoyed a strong and multifaceted relationship, marked by robust economic ties, cultural exchanges, and strategic partnerships. The recent official visit of Prime Minister Lawrence Wong (“PM Wong“) to India from 2 to 4 September 2025 underscores the commitment of both nations to deepen their cooperation. In a press release dated 4 […]
IPOS Announces Initiatives to Help Enterprises Leverage Intangible Assets and Intellectual Property
The Intellectual Property Office of Singapore (“IPOS“) announced a series of initiatives at the launch of IP Week @ SG 2025. The initiatives seek to help enterprises leverage intellectual property (“IP“) and intangible assets (“IA“), and include the following: Franchising and licensing: IPOS and the Franchising and Licensing Association (“FLA“) will partner to help enterprises […]
Singapore Launches IT Energy Efficiency Standard for Data Centres
Singapore has launched a new standard “SS 715:2025: Energy Efficiency of Data Centre IT Equipment” (“SS 715:2025“), which seeks to support data centre operators and users to deploy energy efficient information technology (“IT“) equipment. As one of the first data centre standards for IT energy efficiency in the tropics, SS 715:2025 aims to save energy […]
Proposed Amendments to the Public Sector (Governance) Act for Agencies to Share Data with External Partners
The Ministry of Digital Development and Information (“MDDI“) conducted a public consultation from 12 August 2025 to 2 September 2025 on proposed amendments to the Public Sector (Governance) Act 2018 (“PSGA“), which aim to provide a clear legal basis for public sector agencies to share data with authorised external partners. At present, the PSGA only […]
Singapore and the European Free Trade Association Successfully Conclude Negotiations on a Digital Economy Agreement
Singapore and the European Free Trade Association (“EFTA“) States have successfully concluded negotiations on the EFTA-Singapore Digital Economy Agreement (“ESDEA“) on 10 July 2025. The ESDEA establishes a robust framework for digital connectivity between Singapore and the EFTA States, featuring rules and commitments designed to boost digital trade, enable open and secure cross-border data flows, […]