Regulatory Alerts2020-05-26 | 29649Consultation on Revised Draft Guideline for Outsourcing Activities
The banking, bureau de change, and insurance regulators have issued a consultation on their revised draft guideline for outsourcing activities. The updated framework establishes comprehensive risk management standards, materiality thresholds, and contractual requirements for third-party service providers. Financial institutions must evaluate the proposed changes and submit formal feedback within the designated consultation window.
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