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.
Notices
Published Date: 09 May 2024
Requirements on technology risk management for licensed financial advisers.
Technology Risk
Notifications
Issued pursuant to: Financial Services and Markets Act 2022
Applies to:
Licensed Financial Adviser
,
Exempt Financial Adviser
,
Exempt Financial Adviser Serving up to 30 Accredited Investors
View Notice
Notice FSM-N23 Technology Risk Management
(66.9 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-N23 (66.9 KB) is effective from 10 May 2024.
Instructions on Incident Notification and Reporting to MAS
Incident Reporting Template