Consultation Paper on Proposed Revisions to Business Continuity Management Guidelines
MAS consulted the public on proposed revisions to our Guidelines on Business Continuity Management (BCM) issued in 2003. The revised guidelines will also encompass the guidance on pandemic and physical security measures in our 2006 circular to FIs. The latest updates seek to address developments in the evolving threat landscape, such as in the areas of cyber-attacks and terrorism, and guide FIs on the best practices to maintain their business continuity and resilience against disruptive events. Following the review, MAS published a set of revised guidelines in June 2022.
The Guidelines on Business Continuity Management (BCM) set out the need for financial institutions to take an end-to-end service-centric view in ensuring the continuous delivery of critical business services to their customers.