IMA counters FCA's outsourcing concerns with principles list

clock

The Investment Management Association (IMA) has responded to the Financial Conduct Authority's (FCA) concerns over outsourcing arrangements across the industry by producing a set of principles it expects members to adopt and adhere to.

Following the release of the FCA's Dear CEO letter on outsourcing last December, the IMA has put together a list of principles it feels should improve oversight of outsourcing arrangements. The principles laid out by the IMA cover three main areas: oversight, exit planning and standardisation. Outlined below are seven key guiding principles the IMA has put forward to help members meet the FCA's new criteria on outsourcing. Comprehensive exit plan Asset managers should have an exit plan that includes all relevant outsourced functions. Exit plans for each outsourced function shoul...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

David Coombs: How to stop the exodus to Uncle Sam

David Coombs: How to stop the exodus to Uncle Sam

What's needed to stem the flow of UK companies rushing to list abroad?

David Coombs
clock 16 May 2024 • 3 min read
Infrastructure spend could help push growth despite bleak outlook

Infrastructure spend could help push growth despite bleak outlook

'One of the things that will drive the background music is inflation'

Hope Coumbe
clock 15 May 2024 • 1 min read
Future of Investment Festival: Three weeks left to secure a spot!

Future of Investment Festival: Three weeks left to secure a spot!

Targeted at sustainable, forward-thinking finance professionals

Professional Adviser
clock 15 May 2024 • 1 min read