IOSCO - Principles on outsourcing of financial services for market intermediaries
The Consultation Report set out a set of principles that are designed to assist regulated entities in determining the steps they should take when considering outsourcing activities. The Consultation Report also contained some broad principles to assist securities regulators in addressing outsourcing in their regular risk reviews of firms. Some members of SC3 surveyed industry participants in their respective jurisdictions for information regarding current outsourcing practices. Following the receipt of comments by the public, SC3 revised the Consultation Report and the IOSCO Technical Committee approved the revised report during its 31 January – 1 February 2005 meeting.