SINGAPOREResearch
SSRN: Lin Lin urges Singapore to harden AI finance guidance into enforceable codes
In an October 12, 2026 SSRN preprint, Lin Lin examines the Monetary Authority of Singapore's layered approach to AI in finance, which combines principles-based rules, industry collaboration, supervisory technology and deliberate gradualism. She calls the FEAT Principles, Project MindForge and MAS AI risk management guidelines a strong base, but urges enforceable codes, third-party AI rules and a dedicated AI sandbox.
Key points
- Lin notes DBS, OCBC and UOB have widely integrated AI and generative AI to improve efficiency and customer experience.SSRN
- She lists risks including opacity, data privacy, cybersecurity, fairness, accountability, generative AI hallucinations and deepfakes.SSRN
- The MAS strategy combines principles-based regulation, industry engagement, SupTech adoption, market-enabling measures and regulatory gradualism, she writes.SSRN
- Proposed improvements include enforceable codes, rules on third-party AI risk, a dedicated AI sandbox and stronger enforcement and international cooperation.SSRN
- Lin concludes that AI governance in finance needs a calibrated, adaptive and multi-layered approach rather than a single regulatory tool.SSRN