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.
Notices
Published Date: 09 May 2024
Notice FSM-N03 Technology Risk Management
Requirements on technology risk management for licensed insurers other than captive insurers and marine mutual insurers.
View Notice
Notice FSM-N03 Technology Risk Management
(67.7 KB)
This Notice sets out requirements for a high level of reliability, availability and recoverability of critical IT systems and to implement IT controls to protect customer information from unauthorised access or disclosure.
09 May 2024
MAS Notice FSM-N03 (67.7 KB) is effective from 10 May 2024.
Instructions on Incident Notification and Reporting to MAS
Incident Reporting Template
Frequently asked questions about the Notice on Technology Risk Management.