Regulatory Alerts2024-05-09
Added
MAS Notice FSM-N03 Technology Risk Management
The Monetary Authority of Singapore issued Notice FSM-N03 to establish technology risk management requirements for licensed insurers, excluding captive and marine mutual insurers. The regulation mandates high reliability, availability, and recoverability for critical IT systems alongside strict controls to protect customer information from unauthorized access. These requirements became effective on 10 May 2024.
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