Regulatory Alerts2024-12-10
Added
Cancellation of MAS Notice 634 on Banking Secrecy and Outsourcing Conditions
The Monetary Authority of Singapore issued this notice to formally cancel MAS Notice 634, which previously outlined conditions for banking secrecy regarding outsourcing. The cancellation takes effect on 11 December 2024, removing the regulatory framework originally established in February 2003 and last revised in May 2004. This action is executed pursuant to the Third Schedule, Part 2, paragraph 3 of the Banking Act 1970.
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