GEN 5.3.21 Guidance
Past version: effective up to 27/04/2011
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1. An Authorised Person's outsourcing arrangements should include consideration of:
a. applicable guiding principles for outsourcing in financial services issued by the
Joint Forum; or
b. any equivalent principles or regulations the
Authorised Person is subject to in its home country jurisdiction.
2. As a minimum, the
DFSA expects an Authorised Person which has material outsourcing arrangements to:
a. establish and maintain comprehensive outsourcing policies, contingency plans and outsourcing risk management programmes;
b. enter into an appropriate and written outsourcing contract; and
c. ensure that outsourcing arrangements neither reduce its ability to fulfil its obligations to customers and the
DFSA, nor hinder the supervision by the DFSA.
Derived from DFSA RM01/2004 (Made 16th September 2004). [VER1/09-04]