Regulatory Alerts2024-05-09
Added
Notice FSM-N23 Technology Risk Management
The Monetary Authority of Singapore issued Notice FSM-N23 to establish technology risk management requirements for licensed and exempt financial advisers. The notice mandates that these entities maintain high levels of reliability, availability, and recoverability for critical IT systems while implementing controls to protect customer information from unauthorized access. Effective from 10 May 2024, the directive also outlines specific instructions for incident notification and reporting to the regulator.
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