Jurisdiction - Singapore
Reports and Analysis
Singapore – Feedback To MAS Consultation Papers On Outsourcing.

3 December, 2014

 

 

On 30 September 2014, the Singapore Corporate Counsel Association (SCCA) organised a dialog session for financial institutions and vendor organisations to discuss and identify common key feedback points on the Monetary Authority of Singapore’s (MAS) proposals to raise the outsourcing risk management practice standards of financial institutions. The dialog session was led by ATMD Bird & Bird.


Following the dialog session, ATMD Bird & Bird and SCCA have jointly made submissions to MAS setting out the feedback points which were raised and discussed at the session for MAS’s informational and discussion purposes.


Although the proposed Guidelines and Notice on Outsourcing apply across all types of outsourcing and is not limited to IT outsourcing, the submissions discuss MAS’s proposals in the context of technology outsourcing, particularly in the context of shared services and cloud computing services, to illustrate some of the concerns of both financial institutions and their service providers.


Click here to read the feedback to MAS.

 

ATMD Bird & Bird

 

For further information, please contact:

 

Koh Chia Ling, Partner, ATMD Bird & Bird
chialing.koh@twobirds.com

 

Homegrown Banking & Finance Law Firms in Singapore

 
 

Comments are closed.