FCA thematic review of outsourcing in asset management industry
Following on from the (then) FSA’s ‘Dear CEO’ letter of December 2012 on outsourcing arrangements in the asset management sector and the subsequent meetings that the FCA held with the industry, the FCA has published a report (TR13/10) summarising its thematic work on outsourcing in the asset management industry involving a sample of 17 asset management firms, including three hedge-fund managers.
Although this thematic review is directed at the asset management sector, it has relevance to all financial services firms which outsource an activity that is important for their business. The FCA’s thinking on what steps it considers should be taken by companies in managing the risk of supplier failure and how outsourcing contracts are to be managed, is set out…
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