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US, Singapore support cross-border data mobility among financial services firms

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Jacqueline Loh, deputy MD, MAS says: "We look forward to working with the international community to develop standards that support the trust and security for cross-border flows of financial data."

Singapore

THE Monetary Authority of Singapore (MAS) and the US Treasury, in a joint statement on Thursday, supported the case for cross-border data transfer by financial services firms without the need for data localisation, as long as financial regulators have access to data needed for...