The legal pulse of Asia in your hands.

Featured authors

Bill Jamieson

Equity Partner

Relevant practices

Banking And Finance >


MAS Proposed Guidelines on Outsourcing


export this article

Date Published: 1 April 2015[

Authors: Bill Jamieson, Ryosuke Ojiro and Jason Su.

The Monetary Authority of Singapore (“MAS”) first issued the Guidelines on Outsourcing (“Guidelines”), about ten years ago. Since then, outsourcing arrangements have become more prevalent and increasingly complex. To deal with the new challenges, MAS proposed revisions to the Guidelines in September 2014 to raise the standards of institutions’ risk management practices.
The proposed revisions to the Guidelines provide guidance on sound practices that relate to a wide range of issues, including responsibilities of boards and senior management and monitoring and control of outsourcing arrangements. These changes underscore the need for financial institutions to adopt an institution-wide, responsive and rigorous approach towards management of outsourcing arrangements. In addition to these, the proposed revisions include significant changes made in the following areas:

MAS Proposed Guidelines on Outsourcing

Notice on Outsourcing 

Further, MAS proposes that all institutions looking to enter into Material Outsourcing Arrangements have to issue a Notice (“Notice”) that defines a set of minimum standards for outsourcing management. The Notice sets out requirements for the assessment of service providers, protection of customer data, termination of and exiting from an outsourcing arrangement and outsourcing to overseas regulated financial institutions. The expectation is for an institution to manage outsourcing arrangements as if the services continue to be conducted by the institution. Most importantly, the Notice, unlike the guidelines is legally-binding and that the institutions must abide by it.

Click here to view:
Guidelines on Outsourcing; and Notice on Outsourcing


This article is provided to you for general information and should not be relied upon as legal advice. The editor and the contributing authors do not guarantee the accuracy of the contents and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the contents.

related practices

Services related to this article

Swipe right to scroll


Banking And Finance

We offer a wide range of services to borrowers, non-bank lenders, and financial institutions, including:

Debt financing: We advise on the structuring, documentation, and

Get in touch with the authors.

Our legal team comes decked with deep insights and the necessary legal expertise; all ready to help you with your legal needs.

Get in touch

How can CNP help?

We're ready to assist with your legal needs. Please share more details about the nature of your enquiry for us to better serve you.

Subscribe for CNPupdates!

No spam. Just timely legal insights to help you navigate Asia's ever evolving legal landscape.