Consultation Paper on Outsourcing by Banks and Merchant Banks
This consultation paper seeks feedback on proposed revisions to the regime governing banks’ and merchant banks’ outsourcing arrangements, including proposed amendments to the Banking Act. MAS proposes to issue an Outsourcing Notice for Banks and Merchant Banks that will set out identical requirements for banks and merchant banks in respect of outsourcing arrangements which are material.
P002 - 2019
07 February 2019
08 March 2019
MAS Response Date:
05 November 2019
Response date: 05 Nov 2019
The consultation response was published on 05 November 2019.
This consultation paper seeks feedback on a proposed Notice to Banks on Management of Outsourced Relevant Services. MAS also intends to mirror requirements of this notice for Merchant Banks in a Notice to Merchant Banks on Management of Outsourced Relevant Services.