Innovation hub - Outsourcing
- Innovation Hub
Join us on Thursday 28 July at 13:00 at the Digital Jersey Hub and hear from our Policy Senior Manager, Caroline McGrath and Adviser, Olenka Apperley, who will be explaining the changes to the consultation on revisions to the Outsourcing Policy (OSP).
These changes were reviewed by a working group including representatives from a range of different sectors.
In summary, they cover:
- where a Service Provider performs outsourced activity in the form of telecommunication services on behalf of a business, such outsourced activity is not caught
- specific guidance is provided where a service provider performs outsourced activity in the form of Cloud Services
- all Supervised Persons must comply with the Revised OSP in accordance with the new consolidated AML/CFT Handbook
- managed Trust Company Business is now exempt from the application of the Revised OSP
- the provisions of and corresponding guidance within the Revised OSP have been amended to read more clearly and simply and to reflect our current regulatory framework
The event will be beneficial for those who provide services and solutions to the regulated community and want to understand more about how they may be affected.