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ARTICLE · 30 AUGUST 2019

EBA Outsourcing Guidelines – Reminder

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As further set out in our previous client briefings here and here the European Banking Authority ("EBA") Guidelines on outsourcing arrangements (the "Guidelines") come into effect on 30 September 2019

IrelandFinance and Banking
Niall Esler
Niall Esler
Shane Martin
Shane Martin
Conor Daly
Conor Daly
Bill Laffan
Bill Laffan
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As further set out in our previous client briefings here and here the European Banking Authority ("EBA") Guidelines on outsourcing arrangements (the "Guidelines") come into effect on 30 September 2019.

Walkers are currently assisting firms with their preparations for the commencement of the Guidelines.

What entities are in scope?

The Guidelines apply to the following "In-Scope Entities":

  • Credit Institutions
  • Certain MiFID investment firms
  • Payment institutions
  • Electronic money institutions

What happens on 30 September?

The Guidelines come into effect on 30 September 2019. This means that all outsourcing arrangements entered into, reviewed or amended on or after that date must be compliant with the Guidelines. All existing outsourcing arrangements of In-Scope Entities must comply with the Guidelines by the first renewal date but no later than 31 December 2021.

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