Notification 2024
Notice FSM-N21 Notice on Technology Risk Management (capital markets)
Issued by Monetary Authority of Singapore
Effective: 10 May 2024
Plain-English summary
Applies to approved and recognised exchanges and clearing houses, licensed trade repositories, capital markets services licence holders, recognised market operators, trustees of authorised collective investment schemes, benchmark administrators and submitters, and the Depository. Issued 9 May 2024 under section 29(1) of the Financial Services and Markets Act 2022. Sets a one-hour incident notification limit, a 14-day root cause report and a four-hour recovery time objective for critical systems.
Who it applies to
Capital Markets · Asset & Wealth Management
Topics
Cybersecurity & IT Risk Operational Risk & Outsourcing
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Technology incident reporting and recovery objectives for capital markets institutions | Deadline Not later than 1 hour after discovery; root cause report within 14 days | MAS | official | |
Notify MAS of a relevant incident (a system malfunction or IT security incident with severe, widespread impact) as soon as possible and not later than 1 hour after discovery. Submit a root cause and impact analysis report within 14 days, and set a recovery time objective of not more than 4 hours for each critical system, validated at least every 12 months. |
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| No obligations match these filters. | ||||
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