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Response to consultation on draft Guidelines on outsourcing
Go backQ3: Are the guidelines in Title II and, in particular, the safeguards ensuring that competent authorities are able to effectively supervise activities and services of institutions and payment institutions that require authorisation or registration (i.e. the activities listed in Annex I of Directive 2013/36/EU and the payment services listed in Annex I of Directive (EU) 2366/2015) appropriate and sufficiently clear or should additional safeguards be introduced?
With reference to the EBA consultation paper Draft Guidelines on Outsourcing arrangements", as part of Title 2, section 11 "Definitions", a critical or important function is defined as an "outsourcing of a function which is considered as critical or important including any operational tasks performed by the internal control functions ". In this regard, the Studio Annunzata & Conso requires clarification of what is meant by "any operational tasks performed by the internal control functions"."Q5: Are the guidelines in Sections 5-7 of Title III appropriate and sufficiently clear?
With reference to the EBA consultation paper Draft Guidelines on Outsourcing arrangements", as part of Title 3, section 6 "Business continuity plans", it is specified that "Where the failure of the service provider to provide the critical or important function would lead to strict business disruption, institutions and payment institutions should involve the service provider in its business continuity planning (...) ". In this regard, the Studio Annunziata & Conso requires clarification of how the involvement of the service provider must be implemented in the business continuity planning."Name of organisation
Annunziata & Conso