Given regulators increasing focus on outsourcing, AFME in collaboration with Latham and Watkins, has today published a reference paper ‘Outsourcing: The Legal and Regulatory framework’. Aimed at compliance and legal teams, the paper seek to act as a useful tool in helping firms understand and meet their responsibilities in relation to outsourcing arrangements. In particular the paper focuses on:
- consolidating all relevant European legal and regulatory requirements for arrangements with group entities and third parties,
- provides details of relevant enforcement decisions,
- considers the relationship between branches and head offices in outsourcing arrangements,
- provides jurisdiction specific information on the requirements and approaches in France, Germany, Ireland, Italy, Luxembourg, Spain and the United Kingdom and
- highlights Brexit related considerations for member firms.
Recognising the regulatory and legislative changes that are expected to occur in relation to firms’ outsourcing arrangements, we plan to update this reference paper on an ongoing basis.