A guiding light for outsourcing
Regulators are becoming increasingly aware of the need for harmonisation when it comes to outsourcing, as more and more financial institutions move into this area. Choongo Moonga reports
Wary
of the increasing risks associated with outsourcing in financial institutions, global financial regulators are pushing to harmonise regulations for outsourcing relationships in the sector.The US Federal Financial Institutions Examination Council (FFIEC), the Committee of European Banking Supervisors (CEBS), and the Bank for International Settlements (BIS) Joint Forum have all released new guidelines for managing outsourcing risks.
The CEBS and the Joint Forum are explicit in their
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