Regulatory Alerts2024-05-09
Added
MAS Notice FSM-N20 on Cyber Hygiene for Registered Insurance Brokers
The Monetary Authority of Singapore issued Notice FSM-N20 to impose specific cyber hygiene requirements on registered insurance brokers. The regulation mandates the implementation of security measures including securing administrative accounts, applying security patching, establishing baseline standards, deploying network security devices, implementing anti-malware, and strengthening user authentication. This notice became effective on 10 May 2024 pursuant to the Financial Services and Markets Act 2022.
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