Are directors personally liable for wrongdoing committed by the company?

Directors may be personally liable if they:

• • authorised or permitted the wrongdoing,

• • failed to exercise due diligence,

• • breached fiduciary duties,

• • acted recklessly or fraudulently,

• • failed to comply with statutory duties (ACRA, IRAS, MOM, CPF, etc.),

• engaged in wrongful or reckless trading.

Singapore law holds directors personally accountable for many offences.