Singapore - MAS consults on banks' outsourcing notices

... proposed notices to licensed banks and approved merchant banks (together, “banks”) on their management of outsourced relevant services ... Youareusinganoutdatedbrowser.Pleaseupgradeyourbrowsertoimproveyourexperience. 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Printwebpage PrintasaPDF Close 19March2021 PeiyingChuaHeikes  - AdrianFisher  - NatalieLye - AnilShergill - MichelleLee FinancialRegulation Singapore-MASconsultsonbanks'outsourcingnotices Serviceproviderstoremainoutofsight,butfrontofmind TheMonetaryAuthorityofSingapore(“MAS”)isconsultingonproposednoticestolicensedbanksandapprovedmerchantbanks(together,“banks”)ontheirmanagementofoutsourcedrelevantservices(“Notices”).Theconsultationclosedon29 January2021. TheNoticesarethelatestoftheMAS’proposalstointroducelegallybindingrequirementsonfinancialinstitutions’managementofoutsourcingarrangements.TheseproposalshavearisenfromtheMAS’expectationthatfinancialinstitutionsaretomanageoutsourcingarrangementsasiftheservicescontinuetobeconductedbythefinancialinstitutions. Readmore Share&Connect KeyContacts PeiyingChuaHeikes FinancialRegulationPartner/Singapore AdrianFisher Partner,AsiaHeadofTMT/Singapore NatalieLye Associate/Singapore AnilShergill Associate/Singapore MichelleLee Associate/Singapore RelatedContent Leadershipinacrisis-LondonInsightsProgramme Howdoyousuccessfullymanagetalentinapandemic?-LondonInsightsProgramme SustainabilitylinkedlendingintheEuropeanleveragedloanmarket x FindaLawyer Close × Youwillneedtologinorregistertoviewthecontent Login Register Linklatersuser?SignIn Close × 01.Yourdetails 02.Yourorganisationdetails Register Yourdetails *mandatoryfields Businessemail Informationcollectedaspartoftheregistrationprocesswillbeusedtosetupandmanageyouraccountandrecordyourcontactpreferences. FurtherdetailsabouthowwecollectanduseyourpersonaldataontheKnowledgePortal,includinginformationonyourrights,aresetoutinourGlobalPrivacyNotice andCookieNotice. 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