Outsourcing & Due Diligence

It is a firms responsibility when they outsource any business service or process, to ensure the continued compliance and quality of such functions, especially when they are associated with any regulatory requirements. It is essential to have structured, compliant and robust Outsourcing & Supplier controls and measures in place to mitigate risks, ensure quality and protect customers.

The FCA Handbook section SYSC 8.1 covers the requirements and guidelines for outsourcing and using 3rd parties and KYC have used these standards and other legal business requirements to create compliant, user-friendly documents and agreement templates for all firms to utilise and customise.

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