Regulatory Alerts2024-04-29
Added
Notice FHC-N126 Enterprise Risk Management
The Monetary Authority of Singapore issued Notice FHC-N126 to establish enterprise risk management requirements for designated financial holding companies with licensed insurance subsidiaries. The notice mandates these entities to develop a comprehensive enterprise risk management framework and conduct an Own Risk and Solvency Assessment at the group level. This regulatory update, effective April 29, 2024, supersedes previous versions to ensure robust risk governance within the financial holding company structure.
Notices
Last Revised Date: 29 April 2024
Notice FHC-N126 Enterprise Risk Management
Requirements and guidelines on enterprise risk management for designated financial holding companies that have a subsidiary that is a licensed insurer incorporated, formed or established in Singapore (“DFHC (Licensed Insurer”)).
View Notice
Notice FHC-N126 Enterprise Risk Management
(530.9 KB)
This Notice applies to all DFHCs (Licensed Insurer). It sets out the requirements and guidelines for DFHCs (Licensed Insurer) to develop their enterprise risk management framework and perform the Own Risk and Solvency Assessment ("ORSA") at the group level.
29 April 2024
Notice FHC-N126 Enterprise Risk Management (530.9 KB)
Notice FHC‐N126 (Amendment) 2024 (559.7 KB) takes effect on 29 April 2024.
29 June 2022
Notice FHC-N126 Enterprise Risk Management (391.6 KB) takes effect on 1 Jul 2022.
Guidance to financial institutions on sound practices for their internal control environment and business process controls.
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
Risk management principles and best practice standards to guide financial institutions in managing technology risk.
Guidelines for financial institutions on risk management of outsourcing arrangements.
Guidelines for a financial institution’s operational risk management framework, including business continuity and outsourcing.
Articulates the objectives and scope of MAS’ Guidelines on Risk Management Practices.
Guidelines for financial institutions on managing their market risk.
Guidelines for financial institutions on managing their credit risk.
Guidelines for financial institutions on managing their liquidity risk.