Key Announcements in Singapore FinTech Festival 2019

Singapore FinTech Festival 2019, held from 11 to 15 November 2019, was attended by over 60,000 people from about 140 countries. During the festival, Singapore's regulatory authorities made several key announcements on projects and national strategies that are currently being undertaken to benefit and enhance Singapore's financial technology (FinTech) industry, including initiatives in FinTech investments, technology innovation collaboration, artificial intelligence projects and cybersecurity cooperation.

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PDPC Publishes Guide to Accountability Under the Personal Data Protection Act

The Personal Data Protection Commission's (PDPC) Guide to Accountability (Guide) emphasises the importance of demonstrating accountability by developing an organisational culture of compliance and responsibility when handling and managing personal data.

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Recent PDPC Decisions Focus on the PDPA Protection Obligation

Recent cases of the Personal Data Protection Commission highlight that organisations must implement appropriate security measures to protect personal data in their possession or control, which are appropriate to the sensitive nature of such data. Adequate training and thorough testing are important components of these required security arrangements.

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PDPC Issues Guide to Managing Data Breaches 2.0

The Personal Data Protection Commission (PDPC) issued the "Guide to Managing Data Breaches 2.0", which is an update of the 2015 version. The Updated Guide aims to help organisations effectively manage data breaches and also introduces a mandatory data breach notification requirement which is to be included in the proposed amended Personal Data Protection Act 2019.

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MAS Updates E-Payments User Protection Guidelines

The Monetary Authority of Singapore (MAS) released updates to the E-Payments User Protection Guidelines. The update clarifies rules regarding financial institutions' obligations to inform account holders of risks and potential liability when they choose to receive fewer transaction notifications.

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