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MAS, the Monetary Authority of Singapore, has issued a second consultation document in a process to revise its existing Guidelines on Business Continuity Management. The paper gives stakeholders the opportunity to comment on response and feedback offered after the first consultation paper which was published in 2019.

The ‘Second Consultation Paper and Response to Feedback Received on Proposed Revisions to Guidelines on Business Continuity Management’ also incorporates key learnings from the COVID-19 pandemic; emphasises the need for financial institutions to take an end-to-end view in ensuring the continuous delivery of critical business services; and introduces principles and practices that financial institutions can implement to strengthen operational resilience.

MAS says that while this consultation is on-going, financial institutions should continue to refer to the 2003 guidelines and supplementary guidance.

The deadline for submissions is 15th November 2021.

Read the document (PDF).

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