Global Trustee and Fiduciary Services Bite-Sized Issue 12 2025

5 QUICK LINKS COSTS & CHARGES CRYPTOASSETS FINTECH FSB IOSCO OPERATIONAL RESILIENCE SAVINGS AND INVESTMENT UNION SUSTAINABLE FINANCE/ESG T+1 ASIA PACIFIC EUROPE NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 12 | 2025 The proposed Guidelines will apply to all financial institutions (FIs) and set out MAS’ supervisory expectations on oversight of AI risk management in FIs, key AI risk management systems, policies and procedures, key AI life cycle controls, as well as capabilities and capacity needed for the use of AI. MAS said it recognises that AI can be applied to a wide range of use cases, and that the risks associated with different usage of AI may vary based on the scale, scope and business models of FIs. The Guidelines aim to establish a set of expectations that are generally applicable across the financial sector and may be applied in a proportionate manner - commensurate with the size and nature of FIs’ activities, use of AI, and their risk profiles. The Guidelines will cover different AI applications and technologies, including Generative AI, as well as newer developments such as AI agents. MAS has set out expectations for FIs in the following key areas: • Oversight of AI Risk Management. • Key AI Risk Management Systems, Policies and Procedures. • AI Life Cycle Controls, Capabilities and Capacities. The Guidelines build on MAS’ supervisory thematic review of key banks’ use of AI in 2024, as well as discussions with FIs. The consultation period ends on 31 January 2026. Link to MASWebsite here MAS and UK FCA Announces Partnership on AI-in-Finance On 12 November 2025, MAS and the Financial Conduct Authority (FCA) announced a new strategic partnership on AI in Finance between Singapore and the United Kingdom (UK) – termed the UK-Singapore AI-in-Finance Partnership (Partnership). The new Partnership aims to support safe and responsible AI innovation. MAS and FCA said this will enable AI-in-Finance solution providers in Singapore and AI innovators in the UK to scale and operate best-in-class AI solutions across both markets more effectively. Financial institutions in both key financial centres will also benefit from expanded opportunities for innovation and cross-border learning. As a start, MAS and FCA said they will explore the joint testing of AI solutions, exchange of regulatory insights, discussions on responsible AI, and collaborative events to spotlight best-in-class approaches. Link to FCA Announcement here Link to MASWebsite here HKMA Unveils “Fintech 2030” at the Hong Kong FinTechWeek 2025 On 3 November 2025, the Hong Kong Monetary Authority (HKMA) unveiled “Fintech 2030”, at the Hong Kong FinTech Week 2025. In his keynote speech, Mr Eddie Yue, Chief Executive of the HKMA, outlined the vision of “Fintech 2030” to make Hong Kong a robust, resilient, and future-ready fintech hub. Mr Yue said, “Fintech 2030” will focus on four strategic pillars, collectively known as “DART”, with a comprehensive portfolio of over 40 initiatives, including: • Creating Next-generation Data and Payment Infrastructure; • A New Holistic “Artificial Intelligence x Authorized Institutions” Strategy (AI 2 Strategy); • Enhancing Business, Technology and Quantum Resilience; and • Tokenisation of Finance. Link to Press Release here