Last week, the FDIC (“Federal Deposit Insurance Corporation”) sent out one of its periodic Financial Institution Letters. This one is about Technology Service Provider Contracts, so if you’re the compliance officer or a member of senior management of a financial institution with activities in the US and your firm works with technology services providers, you …
The German financial watchdog BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) today published guidance with regard to the use of cloud solutions. Produced in collaboration with Deutsche Bundesbank, the German national bank, it presents an assessment of outsourcing to cloud providers and related risks. The document is addressed at credit institutions, financial services institutions, insurance companies, pension funds, …
The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on outsourcing. These Guidelines, which review the existing CEBS Guidelines on outsourcing published in 2006, aim at establishing a more harmonised framework for outsourcing arrangements of all financial institutions in the scope of the EBA’s action. The draft Guidelines provide a …
The European Securities and Markets Authority (ESMA) has published an updated questions and answers document (Q&A) on the application of the Alternative Investment Fund Managers Directive (AIFMD). The Alternative Investment Fund Managers Directive (AIFMD) puts in place a comprehensive framework for the regulation of alternative investment fund managers within Europe. The extensive requirements with which …
ESMA clarifies delegation of functions and other aspects under AIFMD Read More »
The Monetary Authority of Singapore (MAS) issued new Guidelines on Outsourcing Risk Management to financial institutions (FIs) following extensive industry and public consultation. The Outsourcing Guidelines provide expanded guidance to the industry on prudent risk management practices for outsourcing, including cloud services, which have been adopted by a growing number of FIs. Key changes to …
MAS issues Guidelines on Outsourcing Risk Management including Cloud Services Read More »
Today the Financial Conduct Authority (FCA) published its final guidance for firms outsourcing to the ‘cloud’ and other third party IT services. This report is relevant to firms who are interested in outsourcing to the cloud and other third party IT services. It may also be of interest to third party IT providers (including cloud providers), trade …
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