Cloud Worries Show Up in New EU Outsourcing Guidance

Financial firms must maintain a register of all outsourced critical functions under new guidelines now in effect in Europe.

Financial companies in Europe must now maintain a register of all their outsourcing arrangements under new regulatory guidelines, as regulators are worried that cloud services are concentrated among just a handful of companies.

“The regulators want to check that individual firms are capturing these relationships, but they also intended for the register to help regulators monitor any over-reliance of the industry on a small handful of service providers,” says Paul O’Hare, a partner in law firm

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: