The Investment Association has published an updated version of its outsourcing working group (OWG) report which responds to the FSA’s December 2012 Dear CEO letter on asset managers’ outsourcing arrangements. The updated version contains a new addendum which is intended to provide asset managers with further considerations on how they may gain comfort regarding their oversight obligations for outsourced functions and services. In particular, the addendum focuses on Oversight Principle 2: Risk-based assessment – firms should perform a risk-based assessment of outsourced arrangements, including understanding the impact of those activities on the end client and the firm itself.

View Investment Association outsourcing working group updates guiding principles on outsourcing by asset managers, 28 November 2016