Regulatory Alerts2019-10-31
Added · Updated
Circular to Credit Institutions on Amendments to Banking Rule BR/14
Banking Rule BR/14 on Outsourcing by Credit Institutions is revised to align with amendments to the Banking Act transposing Directive (EU) 2015/2366. The revision eliminates the requirement for prior recognition of outsourcing service providers by the Authority, replacing it with a notification obligation where credit institutions must inform the Authority in writing with specified information. The revised rule comes into force with immediate effect.
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