Regulatory Alerts2021-05-28
Added
MAS Notice on Licensed Credit Bureaus and Approved Members
The Monetary Authority of Singapore issued this notice to establish governance, operational, and data integrity requirements for licensed credit bureaus and approved members under the Credit Bureau Act 2016. It mandates specific Code of Conduct standards, the formation of Dispute Resolution and Approved Members Committees, and strict timelines for investigating and correcting disputed data. Additionally, the notice outlines obligations for identity verification, business continuity planning, periodic reporting to the Authority, and prior approval for hosting data outside Singapore.
Topics
Share