Singapore

The Monetary Authority of Singapore (Authority) has published an information paper titled “Data Governance and Management Practices – Observations and Supervisory Expectations from Thematic Inspections”.

What Does the Paper Cover?

The paper focuses on data governance practices that address data quality risk. It incorporates a set of supervisory expectations, aimed at guiding financial institutions in enhancing their data management capabilities in accordance with the Basel Committee on Banking Supervision’s Principles for Effective Risk Data Aggregation and Risk Reporting (Basel Principles).

The paper contains observations from thematic inspections on data governance and management of systematically important banks in Singapore, specifically:Continue Reading Singapore Publishes a Data Governance Paper for the Financial Sector

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In May 2024 alone, Singapore’s data protection regulator, the Personal Data Protection Commission (Commission) has issued three enforcement decisions that imposed a total of SG$102,000 (approximately US$76,000) in regulatory fines for infringements of Singapore’s Personal Data Protection Act (Act).Continue Reading Singapore Ramps Up Data Protection Enforcement – Five Useful Takeaways

On 7 May 2024, Singapore’s Parliament introduced an Accounting and Corporate Regulatory Authority of Singapore (ACRA) Registry and Regulatory Enhancements Bill (Bill), which will limit public disclosures of company directors’ residential addresses on the business registry in Singapore.Continue Reading Singapore Looks to Tighten Corporate Disclosures of Directors’ Personal Data

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In a Nutshell

On 17 April 2024, the Cybersecurity Agency of Singapore (Agency) issued a response to public feedback received on a draft amendment to its cybersecurity law.

This draft amendment of the Cybersecurity Bill (Bill) was published as part of a public consultation exercise from 15 December 2023 to 15 January 2024.

Our earlier post about this consultation can be accessed here.Continue Reading Singapore Progresses Towards Amended Cybersecurity Law

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Singapore Issues Privacy Guidelines for Children’s…

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China Finalizes New Regulations to Relax Personal Data Exports…

On 28 March 2024, Singapore’s Personal Data Protection Commission (Commission) published a set of advisory guidelines on the applicability of the Personal Data Protection Act (PDPA) on children’s personal data in the digital environment (Guidelines)[1].

What is the Ambit of the Guidelines?

The Guidelines are intended to clarify how Singapore’s comprehensive data protection legislation, the PDPA, including its provisions and obligations imposed on relevant organisations, apply to children’s personal data in the digital environment. More specifically, they apply to organisations whose online products or services are “likely to be accessed by children”.Continue Reading Singapore Issues Privacy Guidelines for Children’s Online Safety