What is the distinction between an executive director and a non-executive director?
Executive directors are employed full-time in the day-to-day operations of the company and should be resident in Singapore (para. (ii) of Table A-1-1 of Appendix 1 to SFA04-G05).
Only individuals who meet both these requirements - (1) employed full-time in the day-to-day operations of the financial institution and (2) resident in Singapore - qualify as executive directors. All other members of the board of directors are considered non-executive directors.