FCA has published a guidance consultation on its requirements on firms who outsource to the cloud and other third party IT services. The guidance includes:

  • clarification of FCA’s interpretation of what it means by the cloud;
  • the risks it sees in outsourcing to the cloud that differ from traditional outsourcing arrangements;
  • the impact of potential EU developments; and
  • a table of areas firms should consider.

FCA asks for comment by 12 February 2016. (Source: FCA Consults on Cloud Outsourcing Guidance)