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The Financial Conduct Authority (FCA) has published final guidance (FG16/5) aimed at clarifying the requirements on firms when outsourcing to the cloud and other third-party IT services. This guidance is broader than an earlier considerations paper published in July 2014 and is intended to help all firms to effectively oversee all aspects of the life cycle of their outsourcing arrangements: from making the decision to outsource, selecting an outsource provider, and monitoring outsourced activities on an ongoing basis, through to exit.
Members may access the guidance by clicking here.
BIBA members’ compliance and regulation queries should be directed to: compliance@biba.org.uk
The post FCA finalises guidance on outsourcing to the cloud appeared first on British Insurance Brokers' Association.
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