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ARTICLE · 02 FEBRUARY 2015

Financial Services | Third Party Risk

Deloitte
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Third party risk is currently a ‘hot topic’ within the Financial Services sector and senior executives across many organisations in the industry are having discussions to agree strategies, procedures and policies to mitigate the risks posed by third parties.

United KingdomCorporate/Commercial Law
Kristian Park
Kristian Park
Christopher Winter
Christopher Winter
Danny Griffiths
Danny Griffiths
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Third party risk is currently a 'hot topic' within the Financial Services sector and senior executives across many organisations in the industry are having discussions to agree strategies, procedures and policies to mitigate the risks posed by third parties. This short blog is the first in a series of three which cover the topic of third party risk. In this first blog, we explore the use of contract compliance inspections in order to obtain assurance over third parties as well as generating significant financial recoveries.

A recent compliance inspection of a global investment and asset management fund resulted in the following observations:

  • £1 million+ in non-compliant charges.

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