Regulatory Alerts2024-12-20
Added
Circular No. ID 02/20 Business Continuity Management Submission of BCM Data
The Monetary Authority of Singapore requires all insurers to update their Business Continuity Management contact details annually or upon any changes. Insurers must complete the revised BCM Data Template and submit it to their MAS Liaison Officer by 31 March 2020. This submission ensures that key personnel remain contactable during BCM events and establishes the template for all future annual updates.
Circular No. ID 02/20 17 January 2020 To Chief Executives All Insurers Dear Sir/Madam Business Continuity Management (“BCM”) – Submission of BCM Data It is essential for key personnel of insurers to be contactable especially during a BCM event. As communicated in previous years, insurers are expected to update MAS on their BCM contact details annually or when there are any changes. The annual updates should be sent to MAS by 31 March of each year. 2 MAS has made some revisions to enhance our BCM Data Template. Please kindly complete the attached template and send it to your MAS Liaison Officer by 31 March 2020. The same template should be used for future updates. 3 If you have any queries, please approach your MAS Liaison Officer. Yours faithfully [sent via MASNET] DANIEL WANG EXECUTIVE DIRECTOR INSURANCE DEPARTMENT ENC Annex BCM Data Template 2020.xlsx