FIN.

ESMA publishes cloud outsourcing guidelines

ESMA has published its final report on outsourcing to cloud service providers. The guidelines cover:

  • risk assessment and due diligence on providers;
  • governance, organisational and control frameworks for monitoring CSP performance – including access and audit rights, information security and sub-outsourcing;
  • arrangements for exiting agreements without undue disruption to business;
  • required and recommended contractual provisions; and
  • information to be notified to regulators.

 

Emma Radmore