The Investment Management Association (IMA) has published a report produced by the Outsourcing Working Group (OWG) in response to the FSA’s December 2012 Dear CEO letter on asset managers’ outsourcing arrangements.
In the report the OWG presents its conclusions in terms of the ‘guiding principles’ and ‘considerations’ that firms should take into account depending on the nature, size and scope of their outsourced arrangements. The OWG states that it expects firms to apply the findings in its report in a way that is proportionate and most appropriate for their business. It also encourages firms to document their rationale and procedures in order to help demonstrate compliance with the regulations.
The OWG plans to hold an industry briefing to present its findings at some point in early 2014.
View An industry response to the FSA’s Dear CEO letter on outsourcing, 9 December 2013