• Industry: Financial Services
  • Type: Publication series
  • Date: 1/22/2014

Financial Services Briefings (Issue 12, Jan 2014) 

With the emergence and positioning of Singapore as a global financial hub, its financial services industry has experienced rapid changes to the way it conducts business and manages systems & operations.

To ensure sound technology risk management and information security practices, the Monetary Authority of Singapore (MAS) has recently issued an updated guidance to financial institutions to address existing and emerging technology risks within the financial services industry.
Financial Services Briefings (Issue 12, Jan 2014)
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Technology Risk Management (TRM) Notice & Guidelines address these aspects of technology risk management for financial institutions – technology risk management framework, resiliency & availability of critical systems and incident reporting. As the TRM Notice will take effect in about half a year from now (1 July 2014), financial institutions need to take immediate actions to ensure compliance.

In this issue, we set out the key changes and how these could impact Singapore financial institutions.