Notice FSM-N05 Technology Risk Management (banks)
Is this legally binding?
Binding, sectoral. Binding, but only for a defined population: one regulated sector, or the federal government and the vendors it buys from.
TRM notice applying to all banks in Singapore (full banks and wholesale banks, locally incorporated and branches). Issued 9 May 2024, effective 10 May 2024, under the FSM Act 2022. Sets requirements for high reliability, availability and recoverability of critical IT systems and IT controls to protect customer information.
What this connects to
8 relations. Official relations are the ones the source documents state; anything marked GAGE analysis is our reading, not an agency's.
Cites1
- InstrumentMAS Notices on Technology Risk Management (TRM Notices)Binding, sectoral
Sector-specific notice within the TRM notice family
Cited by6
- ObligationIdentify critical systemsBinding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
- ObligationMaximum 4 hours unscheduled downtime per critical system in any 12 monthsBinding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
- ObligationRecovery time objective of 4 hours or less per critical systemBinding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
- Obligation1-hour incident notification to MAS (the '1-hour rule')Binding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
- ObligationRoot cause and impact analysis report within 14 daysBinding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
- ObligationIT controls to protect customer informationBinding, sectoral
Obligation stated in Notice FSM-N05 (equivalent provisions in the other sectoral notices)
Supersedes1
- InstrumentMAS Notices on Technology Risk Management (TRM Notices)Binding, sectoralGAGE analysis, not official
FSM-N05 (FSM Act 2022, effective 10 May 2024) replaced the former MAS Notice 644 TRM notice issued to banks under the Banking Act. GAGE analysis of the renumbering; MAS page does not state the supersession expressly
Learn this properly
This page tells you what Notice FSM-N05 Technology Risk Management (banks) is and whether it binds you. The AI Governance program teaches the whole discipline, with dedicated coverage of the Singapore governance stack and the MAS regime, and every topic is passed by explaining it back in your own words, graded against the source.
See the AI Governance programVerified against the official source on 2026-08-17. GAGE is not affiliated with or endorsed by any agency named here, and nothing on this page is legal advice. How this is built and checked.
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