Regulatory Alerts2024-05-09
Added
Notice FSM-N19 Technology Risk Management
The Monetary Authority of Singapore issued Notice FSM-N19 to impose technology risk management requirements on registered insurance brokers. The regulation mandates that these entities maintain high reliability, availability, and recoverability for critical IT systems while implementing controls to protect customer data from unauthorized access. The notice became effective on 10 May 2024 and is issued pursuant to the Financial Services and Markets Act 2022.
Notices
Published Date: 09 May 2024
Notice FSM-N19 Technology Risk Management
Requirements on technology risk management for registered insurance brokers.
Technology Risk
Notifications
Issued pursuant to: Financial Services and Markets Act 2022
Applies to:
Registered Insurance Broker
View Notice
Notice FSM-N19 Technology Risk Management
(67.4 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-N19 (67.4 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.