What is the primary objective of **FERPA**?

**FERPA’s primary objective is to protect the privacy of parents and students by regulating access to and disclosure of personally identifiable information (PII) in education records.** Enacted in 1974 as section 444 of the General Education Provisions Act (20 U.S.C. § 1232g) with regulations at 34 CFR Part 99, it grants rights to inspect records within 45 days (§99.10), seek amendments for inaccurate or misleading content (§99.20), and control disclosures via written consent except under enumerated exceptions (§99.30–99.31).

Who is legally or professionally required to comply with **FERPA**?

**FERPA applies to educational agencies or institutions receiving funds under any program administered by the U.S. Secretary of Education.** This includes public K–12 districts, most postsecondary institutions via student aid like Pell Grants (§99.1(c)), and applies institution-wide to all components (§99.1(d)). Private K–12 schools are exempt unless receiving such funds (§99.1(b)).

Does **FERPA** require an external audit or third-party certification?

**No, FERPA does not mandate external audits or third-party certification.** Compliance is demonstrated through internal policies, annual notifications (§99.7), disclosure recordkeeping (§99.32), and response to Department of Education investigations by the Family Policy Compliance Office (§99.60–67). Institutions must maintain auditable artifacts like logs and procedures.

How often should an assessment for **FERPA** be performed?

**FERPA requires annual notification of rights to parents or eligible students (§99.7(a)), but does not specify assessment frequency.** Best practice involves periodic internal reviews of policies, access controls, vendor contracts, and disclosure logs, aligned with data governance cycles and in response to incidents or regulatory changes.

What are the consequences of non-compliance with **FERPA**?

**Non-compliance can result in Department of Education enforcement actions, including withholding federal funds, cease-and-desist orders, or termination of funding eligibility (§99.67(a)).** Third-party violators face five-year PII access bans (§99.67(c)–(e)); complaints trigger investigations (§99.63), potentially leading to corrective mandates and reputational harm.

Can **FERPA** be mapped to other international frameworks?

**FERPA is a U.S.-specific statute and not designed for direct mapping to international frameworks.** Its focus on education records, parental rights, and funding-conditioned applicability (§99.1) differs from global regimes; institutions must address overlaps via separate compliance programs without formal equivalency.

What is the first step to begin implementing **FERPA**?

**The first step is to publish an annual notification of FERPA rights to parents of students in attendance or eligible students (§99.7(a)).** This must detail inspection procedures, amendment processes, consent rules, complaint filing, and—if used—criteria for school officials and legitimate educational interests (§99.7(a)(3)).

What is the primary objective of **MAS TRM**?

**The primary objective of MAS TRM is to establish sound technology risk governance and oversight while maintaining cyber resilience through defence-in-depth and continuous improvement of IT processes and controls to preserve confidentiality, integrity, and availability (CIA) of data and systems.** As outlined in the January 2021 Guidelines Preface (Section 1.4), MAS targets financial institutions to manage risks from digital transformation, IT complexity, and sophisticated cyber threats like fraud, data exfiltration, and disruptions in interconnected ecosystems.

Who is legally or professionally required to comply with **MAS TRM**?

**MAS TRM applies to all financial institutions (FIs) supervised by MAS, including banks, insurers, capital market intermediaries, payment service providers, and fintech sandbox participants.** Implementation must be proportionate to the FI's risk profile, service complexity, and technology use (Section 2.2), with board and senior management accountable for oversight, regardless of FI size.

Does **MAS TRM** require an external audit or third-party certification?

**MAS TRM does not mandate external audits or third-party certification but requires an independent internal audit function to assess controls, governance, and risk management effectiveness (Sections 3.1.7 and 15).** FIs must ensure a technology risk management function provides independent oversight; external penetration testing is expected annually for Internet-facing systems (Section 13.2.4).

How often should an assessment for **MAS TRM** be performed?

**TRM assessments, including vulnerability assessments and penetration testing, must occur regularly with frequency commensurate to system criticality and exposure; Internet-facing systems require penetration testing at least annually or after major changes (Sections 13.1.1 and 13.2.4).** Policies, risk frameworks, and DR plans need annual reviews (Sections 3.2.1, 4.1.5, 8.2.2), with ongoing monitoring via risk registers and metrics (Section 4.5).

What are the consequences of non-compliance with **MAS TRM**?

**Non-compliance with MAS TRM exposes FIs to supervisory actions including fines, license conditions, revocations, and executive prohibitions, as MAS considers observance of the Guidelines' spirit during supervision (Section 2.2).** Examples include S$27.45 million in fines across nine FIs for related AML/CFT lapses tied to technology gaps, plus CMS license revocation for governance failures.

Can **MAS TRM** be mapped to other international frameworks?

**Yes, MAS TRM can be mapped to frameworks like NIST CSF 2.0 for risk lifecycle alignment and ISO 27001 for control baselines (Section 3.2.1 encourages industry standards).** It complements MAS notices on outsourcing and incident reporting, with proportional implementation supporting integration into enterprise risk management.

What is the first step to begin implementing **MAS TRM**?

**The first step is board approval of a technology risk appetite/tolerance statement and establishment of governance structures, including appointment of a CIO/CTO and CISO approved by the CEO (Sections 3.1.3 and 3.1.7).** Develop an information asset inventory with classification and ownership (Section 3.3) to enable proportionate controls.

FERPA vs MAS TRM

Standards Comparison

FERPA

Mandatory

1974

U.S. federal regulation protecting student education records privacy

MAS TRM

Mandatory

2021

Singapore guidelines for financial technology risk management

Quick Verdict

FERPA protects U.S. student records with access and consent rights for schools, while MAS TRM mandates technology risk governance for Singapore FIs. Schools adopt FERPA to retain funding; banks use TRM to avoid fines and ensure resilience.

Student Privacy

FERPA

Family Educational Rights and Privacy Act (FERPA)

Cost

€€€

Complexity

High

Implementation Time

6-12 months

Key Features

Grants rights to inspect, amend, and consent to education record disclosures
Expansive PII definition including indirect identifiers and linkability risks
Enumerated exceptions for school officials and health/safety emergencies
45-day maximum timeline for record access fulfillment
Mandatory annual notifications and detailed disclosure recordkeeping

Technology Risk Management

MAS TRM

MAS Technology Risk Management Guidelines

Cost

€€€€

Complexity

High

Implementation Time

12-18 months

Key Features

Board and senior management accountability
Proportional risk-based implementation
Third-party risk management oversight
Defence-in-depth cyber controls
Annual pen testing for internet systems

Detailed Analysis

A comprehensive look at the specific requirements, scope, and impact of each standard.

FERPA Details

What It Is

FERPA (Family Educational Rights and Privacy Act of 1974, 20 U.S.C. § 1232g; 34 CFR Part 99) is a U.S. federal regulation establishing privacy protections for student education records. It grants parents and eligible students rights to access, amend, and control disclosures of personally identifiable information (PII). The risk-based approach balances privacy with educational operations via consent rules and enumerated exceptions.

Key Components

Core rights: inspect/review (45 days), amend inaccurate records, consent to PII disclosures.
Definitions: broad education records, expansive PII (direct/indirect identifiers), directory information.
Exceptions (15+): school officials/legitimate interests, emergencies, audits.
Compliance: annual notices, disclosure logs, vendor controls. No formal certification; enforced via funding withholding.

Why Organizations Use It

Mandated for federally funded education institutions to avoid penalties, protect funding eligibility. Enhances trust, mitigates breach risks, enables safe data sharing. Builds reputation, supports innovation in edtech/analytics.

Implementation Overview

Phased program: governance, data inventory, policies/training, technical controls (RBAC, logging), vendor DPAs. Applies to K-12/postsecondary recipients of federal funds. Involves ongoing audits, no external certification.

MAS TRM Details

What It Is

MAS Technology Risk Management (TRM) Guidelines (revised January 2021) are supervisory guidelines from Singapore's Monetary Authority for financial institutions (FIs). They outline principles-based practices for governing and controlling technology and cyber risks, ensuring confidentiality, integrity, and availability (CIA) of systems and data. The risk-based, proportional approach tailors implementation to FI size, complexity, and exposure.

Key Components

15 sections spanning governance, risk frameworks, secure SDLC, IT operations, resilience, access controls, cryptography, data/infrastructure security, cyber operations, assessments, online services, and audit.
Synthesised 12 core principles: board accountability, asset inventories, third-party oversight, defence-in-depth.
No fixed controls; focuses on outcomes via continuous monitoring/improvement.
Supervisory review model, no certification.

Why Organizations Use It

Essential for MAS-regulated FIs to meet supervisory expectations and avoid fines/enforcement.
Builds cyber resilience, operational stability, and customer trust.
Enables secure digital transformation.
Enhances reputation and competitive positioning.

Implementation Overview

Phased: governance setup, asset/risk assessment, controls/testing, third-party management, monitoring.
Targets Singapore FIs (banks, insurers, fintechs); scales by risk profile.
Involves board oversight, policies, training; audit readiness key.

Key Differences

Aspect	FERPA	MAS TRM
Scope	Student education records privacy and access rights	Technology risk governance, cybersecurity, resilience
Industry	U.S. education institutions receiving federal funds	Singapore financial institutions across sectors
Nature	U.S. federal law with funding-based enforcement	Supervisory guidelines with proportional implementation
Testing	Disclosure logging, access request fulfillment	Annual pen testing, vulnerability assessments, DR tests
Penalties	Federal funding withholding, enforcement actions	Fines, license conditions, supervisory remediation

Scope

FERPA

Student education records privacy and access rights

MAS TRM

Technology risk governance, cybersecurity, resilience

Industry

FERPA

U.S. education institutions receiving federal funds

MAS TRM

Singapore financial institutions across sectors

Nature

FERPA

U.S. federal law with funding-based enforcement

MAS TRM

Supervisory guidelines with proportional implementation

Testing

FERPA

Disclosure logging, access request fulfillment

MAS TRM

Annual pen testing, vulnerability assessments, DR tests

Penalties

FERPA

Federal funding withholding, enforcement actions

MAS TRM

Fines, license conditions, supervisory remediation

Frequently Asked Questions

Common questions about FERPA and MAS TRM

FERPA FAQ

MAS TRM FAQ

You Might also be Interested in These Articles...

Your Compliance Command Center: How Modern Tools Orchestrate Cross-Departmental Adherence

Unlock your compliance command center with modern tools for real-time monitoring, automation & integrations across IT, HR, Legal & Finance. Slash non-compliance

The DORA 'Hot Seat' Blueprint: Preparing Leadership and the Management Body for Regulatory Interviews

Prepare your Board & Management Body for DORA audits. Master the human element: demonstrate active oversight & accountability in regulatory interviews. Get the

SOC 2 for Bootstrapped SaaS: Lazy Founder's Automation Roadmap with Vanta/Drata Templates

Bootstrapped SaaS founders: Achieve SOC 2 Type 2 in 3 months with Vanta automation (cuts 70% manual work). Free templates, workflows, screenshots, metrics & Sig

Run Maturity Assessments with GRADUM

Transform your compliance journey with our AI-powered assessment platform

Assess your organization's maturity across multiple standards and regulations including ISO 27001, DORA, NIS2, NIST, GDPR, and hundreds more. Get actionable insights and track your progress with collaborative, AI-powered evaluations.

100+ Standards & Regulations

AI-Powered Insights

Collaborative Assessments

Actionable Recommendations

Check out these other Gradum.io Standards Comparison Pages

J-SOX vs AS9110C

Compare J-SOX vs AS9110C: Unpack key differences in financial ICFR compliance vs aerospace MRO quality standards. Master risk-based strategies for seamless implementation and audit success.

CSL (Cyber Security Law of China) vs IEC 62443

Compare CSL (Cyber Security Law of China) vs IEC 62443: Navigate compliance gaps, data localization vs zones/conduits, and strategies for China ops & IACS. Secure your edge now!

C-TPAT vs EU AI Act

Compare C-TPAT vs EU AI Act: US supply chain security vs EU AI rules. Uncover differences, compliance strategies & benefits for global trade. Optimize now!

FERPA

MAS TRM

Quick Verdict

FERPA

Key Features

MAS TRM

Key Features

Detailed Analysis

FERPA Details

What It Is

Key Components

Why Organizations Use It

Implementation Overview

MAS TRM Details

What It Is

Key Components

Why Organizations Use It

Implementation Overview

Key Differences

Scope

Industry

Nature

Testing

Penalties

Frequently Asked Questions

FERPA FAQ

What is the primary objective of FERPA?

Who is legally or professionally required to comply with FERPA?

Does FERPA require an external audit or third-party certification?

How often should an assessment for FERPA be performed?

What are the consequences of non-compliance with FERPA?

Can FERPA be mapped to other international frameworks?

What is the first step to begin implementing FERPA?

MAS TRM FAQ

What is the primary objective of MAS TRM?

Who is legally or professionally required to comply with MAS TRM?

Does MAS TRM require an external audit or third-party certification?

How often should an assessment for MAS TRM be performed?

What are the consequences of non-compliance with MAS TRM?

Can MAS TRM be mapped to other international frameworks?

What is the first step to begin implementing MAS TRM?

You Might also be Interested in These Articles...

Your Compliance Command Center: How Modern Tools Orchestrate Cross-Departmental Adherence

The DORA 'Hot Seat' Blueprint: Preparing Leadership and the Management Body for Regulatory Interviews

SOC 2 for Bootstrapped SaaS: Lazy Founder's Automation Roadmap with Vanta/Drata Templates

Run Maturity Assessments with GRADUM

Check out these other Gradum.io Standards Comparison Pages

J-SOX vs AS9110C

CSL (Cyber Security Law of China) vs IEC 62443

C-TPAT vs EU AI Act