Policy / Project Profile
Fairness, Ethics, Accountability, Transparency (FEAT) Principles
Fairness, Ethics, Accountability, and Transparency principles for AI use in the financial sector.
Why it matters
MAS's FEAT, launched in 2018, preceded Singapore's 2019 National AI Strategy, establishing the regulatory principle that soft law precedes legislation in finance, with principles prioritized over rules—setting the keynote for subsequent national-level AI governance.
- Category
- Sector Regulation
- Published / Updated
- 2018
- Issuing body
- Monetary Authority of Singapore (MAS)
- Parliament links
- 4 records
Strategic Context
4 parliamentary records linked.
Detailed Notes
MAS issued the FEAT principles in 2018 to provide governance guidance for financial institutions using AI and data analytics. Four principles: Fairness — ensuring AI decisions do not produce discrimination; Ethics — AI use aligns with ethical standards; Accountability — clear assignment of responsibility for AI decisions; Transparency — AI decision processes are understandable and explainable. The 2022 update incorporated additional practical guidance.
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