Consideration of Attendance at Drug Rehabilitation Centre during Fit and Proper Assessment for Career in Financial Services Industry

27 Assoc Prof Jamus Jerome Lim asked the Prime Minister and Minister for Finance whether an individual who has attended the Drug Rehabilitation Centre will be regarded as not meeting the fit and proper criteria for a career in the financial services industry.

Mr Gan Kim Yong (for the Prime Minister): Admission into the Drug Rehabilitation Centre does not automatically disqualify an individual from a career in the financial services industry.

The Monetary Authority of Singapore's (MAS') "Guidelines on Fit and Proper Criteria" sets out what it means to be fit and proper for persons carrying out activities regulated by MAS. Under the guidelines, financial institutions making a hiring decision on an individual with a past record should take into account, among other considerations, the seriousness and circumstances of past conduct, time elapsed as well as the roles and responsibilities to be assumed by the individual. Financial institutions will also include their own selection requirements, such as adequacy of experience, academic qualifications and skillsets for the role being considered.