What does FSAB mean in GENERAL
The Financial Services Advisory Board (FSAB) is a voluntary body of financial services experts who provide advice and recommendations to the government, regulators, and other industry stakeholders on matters related to the development, regulation and supervision of Singapore's financial services sector.
FSAB meaning in General in Business
FSAB mostly used in an acronym General in Category Business that means Financial Services Advisory Board
Shorthand: FSAB,
Full Form: Financial Services Advisory Board
For more information of "Financial Services Advisory Board", see the section below.
Essential Questions and Answers on Financial Services Advisory Board in "BUSINESS»GENERALBUS"
What is the Financial Services Advisory Board?
The Financial Services Advisory Board (FSAB) is a voluntary body of financial services experts who provide advice and recommendations to the government, regulators, and other industry stakeholders on matters related to the development, regulation and supervision of Singapore's financial services sector.
Who are members of FSAB?
Members of FSAB include both senior practitioners in the industry as well as public sector representatives with expertise in policy making, economics or finance.
What is the purpose of FSAB?
The purpose of FSAB is to provide independent advice on how Singapore's financial sector can be developed sustainably and effectively regulated in order to best serve households, businesses, investors and regulatory bodies.
Does FSAB have any guiding principles?
Yes. The guiding principles that govern FSAP activities are market certainty for investors; trustworthiness for users; sustainability for long term growth; progressiveness for innovative best practices; accessibility for all investors regardless of size or resources; efficiency in operations through effective control processes; competitive fairness among players within an open market environment; stability through reliable oversight; fiscal responsibility with prudent risk management frameworks; sound corporate practices among participants emphasizing legal compliance framework.
How does FSAB operate?
FSAP functions by tasking expert working groups on specific issues that require more technical input. These reports form part of its opinion papers which it then submits as formal recommendations to government authorities or other appropriate persons such as international organizations like IMF or World Bank. It also periodically reviews existing regulations where changes may be needed due to external economic developments or technological advancements that could impact upon Singapore's financial industry landscape.
Final Words:
The Advice provided by FSAB helps ensure that Singapore's financial service sector remains globally competitive while protecting the interests of all stakeholders involved. This board thus plays a vital role in helping Singapore maintain its prominent place in global financial circles.
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