Regulatory Alerts2024-10-11
Outsourcing Circular
The regulatory authority issued this updated Outsourcing Circular to establish binding governance and risk management standards for institutions managing third-party service providers. The guidelines require comprehensive due diligence, continuous performance monitoring, and explicit contractual safeguards to mitigate operational and compliance exposures. Version 17, published on October 11, 2024, and revised on November 3, 2024, outlines detailed reporting obligations and implementation timelines for full regulatory adherence.
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