The Monetary Authority of Singapore has released its new outsourcing guidelines to financial institutions, which apply to existing outsourcings.

• Financial institutions have until 27 October 2016, to carry out a self-assessment of all existing outsourcing arrangements against the new guidelines.
• The guidelines also cover the use of cloud services and a revision to the definition of “material outsourcing arrangement”.

For further information on the requirements of the new guidelines please read our full update.