Regulatory Alerts2024-05-09
Added
Notice FSM-N17 Technology Risk Management
The Monetary Authority of Singapore issued Notice FSM-N17 to establish technology risk management requirements for licensed credit bureaus. The regulation mandates high reliability, availability, and recoverability of critical IT systems alongside strict controls to protect customer information from unauthorized access. These requirements became effective on 10 May 2024 under the Financial Services and Markets Act 2022.
Notices
Published Date: 09 May 2024
Notice FSM-N17 Technology Risk Management
Requirements on technology risk management for licensed credit bureaus.
Risk Management
Technology Risk
Issued pursuant to: Financial Services and Markets Act 2022
Applies to:
Credit Bureau Licensee
View Notice
Notice FSM-N17 Technology Risk Management
(68.5 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-N17 (68.5 KB) is effective from 10 May 2024.
Instructions on Incident Notification and Reporting to MAS
Incident Reporting Template
This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.