Regulatory Alerts2023-07-07
Added · Updated
Outsourcing by banks, payment institutions and electronic money institutions
Banks, payment institutions, and electronic money institutions must comply with the European Banking Authority's new Guidelines on outsourcing, which replace previous CEBS guidelines from 2006 and EBA recommendations on cloud service providers. These guidelines aim to minimize risks associated with outsourcing activities and operate alongside existing requirements under the Financial Supervision Act and the Decree on Prudential Rules for Financial Undertakings.
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