On 3 July 2026, the Monetary Authority of Singapore (MAS) published an Information Paper which proposed a framework for the governance of AI agents in financial services ("Information Paper"), which may be viewed here.

The Information Paper introduces the SAFR (Safeguards for Agentic Finance at Runtime) framework as a proposed approach towards the governance of AI agents with respect to what the system is authorised to do, how proposed actions are assessed at runtime before execution, and what records are retained to support review, accountability, and remediation when outcomes diverge from intent. It is worth noting, however, that the SAFR Framework does not constitute regulatory guidance or supervisory expectations, nor does it prescribe or anticipate future directions for such guidance or expectations.

Instead, the SAFR framework was designed to serve as a runtime standard (i.e., a specification for how governance objectives are enforced at the moment an agent proposes to act, in production, at the speed and volume at which agents actually operate). It introduces a governance checkpoint between every agent decision and its execution to ensure that no agentic action reaches execution without having been declared, authorised, and assessed.

If you have any questions on how this may impact your business or operations, please feel free to reach out to us.

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