AIMA Members Update - Outsourcing in 2019
Outsourcing will be a key focus in 2019 for many regulators, including the Central Bank of Ireland. The EBA is due to release new outsourcing guidelines for banks and investment firms to supersede the 2006 CEBS guidelines. Those new EBA outsourcing guidelines, although not directly applicable to other regulated entities, are likely to form the basis on which the ESMA and EU regulators approach outsourcing by other regulated entities. This approach was signalled by the Central Bank of Ireland in its recent outsourcing discussion paper.
With the increased focus on outsourcing in mind, AIMA and a working group of members, aided by members of Irish Funds, have created a new Guide to Sound Practices for Outsourcing by Investment Managers. Although the guide focuses on outsourcing by investment managers, many of the concepts will be relevant for outsourcing by funds and other regulated entities as well.
Join us for a panel discussion on the continuing evolution of the outsourcing requirements for regulated entities in Ireland, the new Guide to Sound Practices and the related Illustrative Questionnaire for the Due Diligence of Outsource Service Providers.
Jennifer Wood, AIMA's Global Head of Asset Management Regulation & Sound Practices, will also provide an update on key strands of AIMA's work, spanning research, significant regulatory changes and AIMA's Guide to Sound Practice publications.