MFSA releases Guidance on Technology Arrangements, ICT & Security Risk Management, & Outsourcing Arrangements
In a Circular issued by the Malta Financial Services Authority (‘MFSA‘ or the ‘Authority‘), the Authority announced a principle-based cross-sectorial guidelines on Technology Arrangements, ICT & Security Risk Management, and Outsourcing Arrangements.
The Authority clarified that the document is drawn from the belief that technology is a core component, ‘innovation enabler’ and ‘major determinant’ for operational efficiency and underlined ‘the importance of resilience and regulatory compliance’.
The document outlines different types of technology arrangements (including cloud computing, virtualised environments, monolithic, microservices and serverless architectures, and artificial intelligence and machine learning) and provides guidance on aspects relating to ICT and Security Risk Management (such as information security and business continuity management) and aspects relating to outsourcing arrangements.
Click here to access the document.
