Regulatory Alerts2021-06-21
Added · Updated
ESMA Guidelines on Outsourcing to Cloud Service Providers
The European Securities and Markets Authority issued guidelines to establish a consistent supervisory approach for financial entities outsourcing services to cloud providers. These guidelines require firms to implement robust risk management frameworks and maintain clear contractual arrangements to ensure operational resilience and data security. The document aims to mitigate the specific risks associated with cloud computing while facilitating the benefits of digital transformation in the financial sector.
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