Regulatory Alerts2022-06-06
Added · Updated
Guidelines on Business Continuity Management
The Monetary Authority of Singapore issued revised Guidelines on Business Continuity Management to require financial institutions to adopt an end-to-end service-centric approach for ensuring the continuous delivery of critical services. These guidelines supersede previous 2003 and 2006 documents by incorporating lessons from the COVID-19 pandemic and addressing evolving threats such as cyber-attacks and terrorism. Financial institutions are mandated to establish a BCM audit plan within 12 months of issuance and conduct their first audit within 24 months.
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