REACH
EU regulation for chemical registration, evaluation, authorisation, restriction
MAS TRM
Singapore guidelines for financial technology risk management
Quick Verdict
REACH mandates chemical safety registration and restrictions across EU industries for health protection, while MAS TRM guides Singapore FIs on technology risk governance and cyber resilience. Companies adopt REACH for EU market access; MAS TRM to meet supervisory expectations and ensure operational stability.
REACH
Regulation (EC) No 1907/2006 on REACH
Key Features
- Shifts burden of proof to industry for risks
- Registration required above 1 tonne/year per entity
- Four pillars: registration, evaluation, authorisation, restriction
- Continuous dossier updates and Annex monitoring
- Supply-chain SDS and SVHC communication duties
MAS TRM
MAS Technology Risk Management Guidelines
Key Features
- Board and senior management accountability
- Proportional risk-based controls
- Third-party risk management integration
- Annual penetration testing requirement
- Cyber resilience and DR testing
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
REACH Details
What It Is
REACH (Regulation (EC) No 1907/2006) is a directly applicable EU regulation establishing a comprehensive framework for managing chemical risks. Its primary purpose is protecting human health and the environment through better identification of substance properties, while promoting innovation. The risk-based approach shifts responsibility to industry for generating and sharing data on hazards, exposure, and safe use.
Key Components
- Four integrated pillars: Registration, Evaluation, Authorisation, Restriction.
- Detailed annexes (I-XVII) defining data requirements, SDS rules, SVHC lists (Annex XIV), restrictions (Annex XVII).
- Core principles: industry-led data generation, tonnage-based information scaling, supply-chain communication.
- No certification; compliance via ECHA dossier submissions and national enforcement.
Why Organizations Use It
Legal obligation for EU market access; avoids penalties, market bans. Reduces risks via proactive substitution, enhances supply-chain transparency, supports ESG goals, drives innovation in safer chemistries.
Implementation Overview
Phased approach: gap analysis, substance inventory, dossier preparation (IUCLID), SDS management, monitoring. Applies to manufacturers/importers (>1 tpa); cross-industry, EU/EEA-focused. Ongoing audits, no central certification.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (January 2021) are supervisory guidelines from Singapore's Monetary Authority of Singapore (MAS) for financial institutions. They provide a risk-based framework for managing technology and cyber risks across governance, operations, and resilience, emphasizing proportionality to FI size and complexity.
Key Components
- 15 sections covering governance, asset management, SDLC, IT services, resilience, access controls, cryptography, cyber operations, testing, and audit.
- Core principles: board accountability, defence-in-depth, security-by-design, continuous monitoring.
- No fixed controls; compliance via demonstrable outcomes and supervisory review.
Why Organizations Use It
- Mandatory for MAS-regulated FIs to avoid fines, enforcement.
- Enhances resilience, reduces cyber incidents, integrates with ERM.
- Builds trust, enables digital innovation safely.
Implementation Overview
- Phased: governance setup, asset inventory, control deployment, testing.
- Targets banks, insurers, fintechs in Singapore.
- No certification; internal audit and MAS supervision assess adherence.
Key Differences
| Aspect | REACH | MAS TRM |
|---|---|---|
| Scope | Chemicals registration, evaluation, authorisation, restriction | Technology risk governance, cybersecurity, IT resilience |
| Industry | Chemicals, manufacturing, all EU supply chains | Singapore financial institutions (banks, insurers) |
| Nature | Mandatory EU regulation with penalties | Supervisory guidelines, proportionate enforcement |
| Testing | Dossier evaluation, substance checks by ECHA | Annual pen testing, vulnerability assessments, DR tests |
| Penalties | National fines, market bans, effective/dissuasive | Supervisory actions, fines, license conditions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about REACH and MAS TRM
REACH FAQ
MAS TRM FAQ
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