31 Aug 2020 | Statements and Position Papers
On 31 August 2020, ALFI responded to an ESMA consultation paper on draft guidelines on outsourcing to cloud service providers.
The guidelines’ purpose is to provide guidance on the outsourcing requirements applicable to financial market participants when they outsource to cloud service providers. In particular, they aim to help firms and competent authorities identify, address and monitor the risks and challenges that arise from cloud outsourcing arrangements.
The proposed guidelines set out:
The ALFI response is available in pdf.