The consultation focuses on Big Tech firms’ entry and expansion into four retail sectors - payments, deposit taking, consumer credit and insurance.
October 28, 2022MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.
October 13, 2022Regulated entities don't require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
June 29, 2022The guidance sets out expectations on the governance processes, design principles, and operational controls FIs should consider when adopting cloud services.
June 5, 2022The rule amendments seek to address excessive regulations that have hindered digital transformation efforts in the financial sector.
April 20, 2022The FSB warns that bigtechs could become so large or dominant that their failure could have a severe impact on economic activity and financial stability.
March 22, 2022The updates will seek to address ransomware, cloud and 5G technology risks faced by critical information infrastructure sectors including banking & finance.
March 10, 2022The FSA will carry out inspections to verify the effectiveness of cyber security systems at FIs. Common issues and good practices identified will be shared with the industry.
February 22, 2022The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
January 3, 2022The work plan focuses on measures to maintain financial stability, reduce debt risks, promote financial innovation, and enhance the FSC's rules on network security.
December 29, 2021