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Regulators eye outsourcing risks

Regulators eye outsourcing risks

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The Bank for International Settlements outlines the growth in financial sector outsourcing and spells out the potential risks.

The report presents a set of principles which are designed to assist financial firms in determining the minimum steps they should take when considering outsourcing activities.
These include establishing a coherent policy and specific risk management programmes as well as determining the types of issues that should be considered in contracts.
The report also contains some broad principles to help supervisors in taking into account outsourcing in their regular risk reviews of firms.

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