Are Singapore’s Monetary Authority’s proposed outsourcing rules clear enough?

The Monetary Authority of Singapore  (“MAS“) is consulting on a new notice and guidelines on outsourcing. Having already commented on its positive message for cloud services, this post addresses the rest of the consultation. In summary, we think: MAS’s proposals are generally positive and helpful. However, in some areas more clarity could be provided. Background MAS first issued its ‘Guidelines on Outsourcing’ in 2004 …

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MAS Embraces Cloud: A Silver Lining

There should be relief at the moment felt by financial institutions and cloud service providers alike, following the release of the MAS’s consultation on the proposed new outsourcing notice and updated guidelines as mentioned in Rob’s previous post. The MAS doesn’t use the word “cloud” expressly in its consultation.  However, the MAS has made important changes …

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