Guidelines on Outsourcing
These guidelines set out MAS’ expectations of a financial institution that has an outsourcing arrangement or is planning to outsource its business activities to a service provider.
The guidelines cover:
- Engagement with MAS on outsourcing.
- Sound practices on risk management of outsourcing arrangements.
- Cloud computing.
Resources:
Amendment Notes
- 08 Oct 2018
- Version dated 27 July 2016 (last revised on 05 October 2018) (626.2 KB) takes effect
- 27 Jul 2016
- Previous version dated 27 July 2016 (236 KB) takes effect
- 27 Jul 2016
- Previous version dated October 2004 (last revised on 01 July 2005) (80.2 KB)[Cancelled]
Related to this Item
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FAQsPublished Date: 08 October 2018
FAQs on Trust Companies Act and Trust Companies Regulations
Provides guidance on the regulatory scope of the Trust Companies Act, including licensing and reporting requirements for licensed trust companies, exempt trust companies and exempt persons providing trust services.
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CircularsPublished Date: 27 July 2016
SRD TR 01/2016: MAS Circular (Cancellation) 2016
Informs financial institutions that MAS Circular SRD TR01/2011 on Information Technology Outsourcing has been superseded and cancelled by the Guidelines on Outsourcing dated 27 July 2016.
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GuidelinesPublished Date: 27 July 2016
FAQ on Mas Guidelines on Outsourcing
Frequently Asked Questions on MAS’ Guidelines on Outsourcing.
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FAQsPublished Date: 27 July 2016
FAQ on Outsourcing Guidelines
Frequently Asked Questions on MAS Guidelines on Outsourcing.
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NoticesLast Revised Date: 07 December 2015
Notice 126 Enterprise Risk Management (“ERM”) for Insurers
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
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NoticesLast Revised Date: 29 November 2013
Notice 1108 Banking Secrecy – Conditions for Outsourcing
Requirements for merchant banks on protecting the confidentiality of customer information in all outsourcing arrangements.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices – Operational Risk
Guidelines for a financial institution’s operational risk management framework, including business continuity and outsourcing.
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GuidelinesPublished Date: 01 March 2013
Guidelines on Risk Management Practices for Insurance Business - Core Activities
Guidelines on sound practices in carrying out insurance business and principles relating to risk management framework.
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GuidelinesPublished Date: 01 November 2012
Guidelines on Risk Management Practices for Insurance Business - Insurance Fraud Risk
Guidelines on risk management practices to mitigate insurance fraud risk.
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NoticesLast Revised Date: 25 May 2004
Notice 634 Banking Secrecy – Conditions for Outsourcing
Requirements for banks on protecting the confidentiality of customer information in all outsourcing arrangements.
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CircularsPublished Date: 20 November 2002
Outsourcing of Cash and Cheque-related Transactional Services to Another Bank
Sets out the conditions whereby banks may seek MAS approval to outsource cash and cheque-related transactional services to another bank in Singapore.