In brief
On 10 June 2026, the Monetary Authority of Singapore (MAS) published a Consultation Paper on Proposed Amendments to Notices on Technology Risk Management (“Consultation Paper”). The Paper may be viewed here.
The Consultation Paper proposes various amendments ("Proposals") to the MAS Notices on Technology Risk Management (collectively, the "Notice") to strengthen the technology resilience of the financial services sector, requiring relevant Financial Institutions (FIs) to implement measures across the following key areas:
- IT asset management
- IT risk assessment and monitoring
- Capacity planning and management
- Change management controls
- Continuous system and security monitoring
- Immutable and offline data backup
- Incident management 8. Monitoring of unscheduled downtime
These measures strengthen FIs abilities to monitor, assess, mitigate and recover from the risk of their operations or services being affected. The Proposals are intended to take effect 12 months after the finalised Notice is published.
If you have any feedback or comments for MAS in relation to the Proposals, please reach out to MAS via this link. The consultation will close on 31 July 2026.
Alternatively, if you have any questions on how this may impact your business or operations, please feel free to reach out to us.
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