Guidelines
 Published Date: 11 December 2023

Guidelines on Outsourcing (Financial Institutions other than Banks)

Guidelines on risk management practices pertaining to the management of outsourcing arrangements for Financial Institutions other than Banks.
Applies to: Credit/Charge Card Issuer , Finance Company , Financial Holding Company (Banking) , Exempt Trust Company , Licensed Trust Company , Exempt Person Providing Trust Services , Approved CIS Trustee , Benchmark Administrator/Submitter , Central Securities Depository , Clearing House , Corporate Finance Advisory , Credit Rating Agency , Dealing in Capital Markets Products , Exempt Corporate Finance Adviser Serving Accredited Investors , Exempt Futures Broker , Exempt OTC Derivatives Broker , Holding Company of Exchange or Clearing House , Licensed Fund Management Company , Markets and Exchanges , Product Financing , Providing Custodial Services , Registered Fund Management Company , REIT Management , Securities Crowdfunding , Venture Capital Fund Management Company , Trade Repository , Exempt Financial Adviser , Exempt Financial Adviser Serving up to 30 Accredited Investors , Licensed Financial Adviser , Credit and Charge Card Licensee , Credit Bureau Licensee , Designated Payment System Operator , Designated Payment System Settlement Institution , Major Payment Institution , Money-changing Licensee , Standard Payment Institution , Direct Insurer (Life) , Direct Insurer (General) , Direct Insurer (Composite) , Reinsurer (Life) , Reinsurer (General) , Reinsurer (Composite) , Captive Insurer , Lloyd's Asia Scheme , Financial Holding Company (Insurance) , Registered Insurance Broker , Exempt Insurance Broker , Approved Insurance Broker , Lloyd's Broker
View Document Guidelines on Outsourcing (Financial Institutions other than Banks) (443.6 KB)

These guidelines are effective on 11 December 2024 and apply to all financial institutions (with the exception of banks and merchant banks) in Singapore, and set out MAS’ expectations of an institution that has entered into any outsourcing agreement or is planning to outsource its business activities to a service provider.

Please note that guidance specific to outsourced relevant services for banks and merchant banks are set out in a separate set of guidelines for banks and merchant banks.

 

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