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ID:39745034
大小:62.86 KB
页数:7页
时间:2019-07-10
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1、Outsourcing:theregulatorychallengeforfinancialservicesfirmsRuthM.EvansRuthM.Evans(Ruth.AbstractEvans@cclcompliance.PurposeToexplaincurrentguidelinesforoutsourcingasprovidedbytheJointForum,theEUMarketscom)isaSeniorConsultant,inFinancialInstrumentsDirective(MiFID),andtheUKFinancialService
2、sAuthority.withTheCCLPartnership,Design/methodology/approachAfterdiscussingtheinternationalregulatoryfocus,describesFSALondon,UK.policyonoutsourcingindetail,includingseniormanagementresponsibilityformanagementofriskandtheneedforinternalandexternalduediligence.Providesguidanceconcernin
3、gsuppliercontracts,relationshipmanagementandmonitoring,contingencyplanning,andexitplanning.FindingsTheFSAsguidanceonoutsourcinghighlightstheneedforseniormanagementofthecustomerfirmtotakefullresponsibilityfortheincreasedrisksthatoutsourcingcangenerateaspartoftheirinherentaccountabilityf
4、orefficientsystemsandcontrols.Originality/valueAguideforensuringthatafirmsoutsourcingarrangementsareincompliancewithFSAandMiFIDguidelines.KeywordsOutsourcing,Financialservices,UnitedKingdomPapertypeGeneralreviewIntroductionInthisarticlethetermoutsourcingisusedtodescribetheprocesswhereby
5、afirm(‘‘thecustomer’’)contractswithathirdparty(‘‘thesupplier’’)fortheadministrationofsomeaspectoraspectsofitscommercialactivities.Theterm‘‘offshoring’’isusedifthisisexUK.IthasbecomeincreasinglycommonforregulatedfirmsbasedintheUKtooutsourcecoreactivities,perhapsaspartofamulti-facetedstra
6、tegysuchasalifeassuranceclosed-bookacquisitionorafullcorporatere-structuring.However,evenwheretheoutsourcingdoesnotinvolveacoreactivityitmaynonethelessbematerialtotheoverallriskprofileofthefirm.Mostcommonly,thepurposeofoutsourcingistoachieveapermanentreductionincostsbutitcanalsoofferflex
7、ibilityinashortertimeframe.Capitaloutlaycanbesharedorevenavoided.FunctionsthatdonotbringthefirmcompetitiveadvantageorwhicharehighinlaborcostcanbesheddiscretelytoasupplierwhocanspreadthecostsefficientlyoverEditorsNote:RuthEvansseveralcustomers.specializesinthecomplianceriskmanagementofTh
8、eFina
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