The Asia Security Industry and Financial Markets Association (ASIFMA) released a report outlining the leading principles for regulation of outsourcing for regulated securities. The report surveyed across jurisdictions from Hong Kong, Singapore, Japan, Australia, UK and the USA. Nine leading principles from the report included:
- Prohibition of outsourcing
- Definition of outsourcing
- Materiality
- Intra-group outsourcing
- Regulatory approvals and notification
- Inventory of outsourcing arrangements
- Audit requirements
- Governance and accountability
- Incident notification and continuity planning
