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Innovation hub – Consultation on changes to the Outsourcing Policy

The focus session will be on JFSC recently published consultation.

Dates
  • 28th July 2022
    1:00pm - 2:30pm

Location:

Digital Jersey Hub

Join us for a focus session on our recently published consultation on revisions to the Outsourcing Policy.

Our Policy Senior Manager, Caroline McGrath and Adviser, Olenka Apperley will be hosting a focus session looking at our revised Outsourcing Policy.
The 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.

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