Tag Archives: outsourcing

ESMA responds on Fintech

ESMA has responded to the Commission’s consultation on Fintech. It sees Fintech as a positive evolution so long as business models continue to aim to improve the customer experience and financial inclusion. It identifies some concerns that it thinks need to be addressed, including: the risks (from a market integrity and investor protection standpoint) and costs […]

ESMA sets out principles for regulating migrating UK firms

ESMA has published a set of principles that the regulators in the “EU27” should follow when assessing applications from UK institutions seeking an EU authorisation post-Brexit.  Key principles include: that no authorisation will be automatically “grandfathered”; that no institutions should be able to operate as a “letter-box” – so all outsourcing and delegation must be […]

EBA consults on outsourcing to the cloud

EBA is consulting on regulatory expectations when firms outsource to the cloud. It wants to identify a set of key principles that all credit institutions and investment firms should follow, and which all regulators should apply. The paper focuses on five key areas for recommendation:  the security of data and systems the location of data […]

LSB reports on outsourcing

LSB has published a report on how 7 members and key third parties control outsourcing of business covered by the Lending Code. It concludes the sample showed good controls. We think the report has some useful checklists that any oursourcing arrangement could consider.