Regulatory Alerts2024-05-09
Added · Updated
MAS Notice FSM-N24 on Cyber Hygiene for Licensed Financial Advisers
MAS Notice FSM-N24 requires licensed financial advisers to secure administrative accounts, apply security patches commensurate with risk, and maintain written security standards for all systems. The notice mandates implementing network perimeter controls, malware protection where available, and multi-factor authentication for administrative accounts on critical systems and for internet access to customer information. These obligations apply to all entities licensed under the Financial Advisers Act 2001 and take effect on 10 May 2024.
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