Notices
 Last Revised Date: 25 May 2004

Notice 1108 Banking Secrecy – Conditions for Outsourcing

Requirements for merchant banks on protecting the confidentiality of customer information in all outsourcing arrangements.

Issued pursuant to: Monetary Authority of Singapore Act (Cap. 186) section 28(3)

Applies to: Merchant Bank (Locally Incorporated) , Merchant Bank (Branch)
View Notice Notice 1108 Banking Secrecy – Conditions for Outsourcing (175.3 KB)
This notice applies to all merchant banks. It sets out the conditions for outsourcing operational functions when such functions involve disclosure of customer information, and which will be performed outside Singapore.

Amendment Notes

25 May 2004
MAS Notice 1108 (Amendment) 2004 takes effect.
19 Feb 2003
MAS Notice 1108 dated 19 Feb 2003 takes effect.

Resources

MAS Notice 1108 Appendix 1: Banking Secrecy Outsourcing Conditions (15.1 KB)