Notices
Notice 1121 Management of Outsourced Relevant Services for Merchant Banks
Requirements that a merchant bank in Singapore has to comply with for the purposes of managing the risks associated with the merchant bank’s outsourced relevant services.
Issued pursuant to:
Banking Act 1970 section 47A(2), (4), (6), (7) and (12) , read with Section 55ZJ of the Act
This Notice is effective on 11 December 2024 and applies to all merchant banks in Singapore. It sets out the requirements that a merchant bank in Singapore has to comply with for the purposes of managing the risks associated with the merchant bank’s outsourced relevant services.
Amendment Notes
There are no amendment notes for this notice.
Related to this Notice
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CircularsPublished Date: 16 December 2025
Circular on Financial Institution Incident Reporting
This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.
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FAQsPublished Date: 11 December 2024
FAQ on MAS Notice 658 and 1121 (Banks)
Provides clarifications to some frequently asked questions on MAS’ Notices on Management of Outsourced Relevant services for Banks (MAS Notice 658) and Merchant Banks (MAS Notice 1121).
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GuidelinesPublished Date: 11 December 2023
Guidelines on Outsourcing (Banks)
Guidelines on risk management practices pertaining to the management of outsourced relevant services for banks and merchant banks.
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ConsultationsPublished Date: 18 December 2020
Consultation Paper on Notices to Banks and Merchant Banks on Management of Outsourced Relevant Services
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.
- Consultation number:
- P011-2020
- Start date:
- 18 December 2020
- Closing date:
- 29 January 2021
- MAS response date:
- 11 December 2023