Today, AIMA submitted a response to the Monetary Authority of Singapore (MAS) consultation paper proposing amendments to Notices on Technology Risk Management – covering areas such as IT asset management, IT risk assessment and monitoring, change management controls, and data backup and recovery.

AIMA recommends targeted changes to the proposals to reduce operational complexity, such as:

• introducing greater proportionality and a more risk-based approach for asset managers;
• recognising the practical realities of outsourced and cloud-based operating models; and
• replacing overly prescriptive technical requirements with outcomes-focused, internationally aligned standards and a realistic implementation timeline.

Read the response in full here.