Singapore and UK to Strengthen Financial Services Partnership

The United Kingdom and Singapore announced a landmark financial services partnership (the "Financial Partnership") on 30 June 2021, at the 6th UK-Singapore Financial Dialogue. The Financial Partnership, which was backed by a Memorandum of Understanding, reaffirms both countries' commitment to building more comprehensive and enhanced financial services relationship while improving regulatory and cybersecurity cooperation.

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MAS Issues Circular on Technology and Cyber Security Risks of Public Cloud Services

The Monetary Authority of Singapore issued a circular advising financial institutions of the technology and cyber security risks associated with public cloud services. The circular focuses on identifying and managing the risks associated with the adoption of public cloud services and serves as a reminder that financial institutions are ultimately responsible for managing these risks.

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