SINGAPORE, 9 January 2026 — Singapore needs to strike a balance between maintaining its reputation as a trusted financial and wealth management hub and accepting that some risk from “rogue actors” is inevitable if it is to attract innovation, capital and entrepreneurs, Deputy Chairman of the Monetary Authority of Singapore and Minister for National Development Chee Hong Tat said at a major industry conference.
Speaking at the Bank of Singapore’s 2026 outlook conference in Marina Bay Sands on 8 January, Chee emphasized that while zero risk is unrealistic, Singapore must ensure that any misconduct by a small number of actors is swiftly detected and dealt with decisively to preserve investor confidence and uphold the city-state’s “trusted” brand.
Balancing Trust With Innovation
Chee, who also serves as deputy chairman of the MAS board, told an audience of about 900 private banking clients that “if the number [of rogue cases] grows too big, we have a problem”, but keeping that number very small allows Singapore to encourage calculated risk-taking, innovation and new ideas that are crucial to becoming more than just a safe place to park money.
“It’s crucial to detect and deal with those rogue cases in a firm and decisive manner to give investors confidence,” he said, underlining that Singapore’s stability and reputation for trust are key reasons wealthy individuals and firms choose to base operations and assets there. “If we end up compromising on our trusted branding, we have more to lose.”
Toward A Vibrant Wealth And Innovation Hub
Chee added that Singapore’s ambition extends beyond being a wealth storage destination. The republic wants to attract family offices, entrepreneurs and innovators, with the aim of fostering a vibrant ecosystem of capital, talent and ideas. A zero-risk stance, he said, could stifle innovation and deter bold investment strategies that fuel long-term economic dynamism.
He reiterated the importance of a risk-proportional regulatory approach, where authorities allow room for experimentation and growth, but act swiftly and firmly against bad actors to protect the broader system’s integrity.
