Regulatory Alerts2018-10-05
Added
Guidelines on Outsourcing
The Monetary Authority of Singapore issued these guidelines to set out expectations for financial institutions engaging in outsourcing arrangements or planning to outsource business activities. The document mandates sound risk management practices, specific requirements for cloud computing, and procedures for engaging with the regulator. It also establishes reporting obligations, including the annual submission of outsourcing registers, and supersedes previous circulars on information technology outsourcing.
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