GUIDELINES ON OUTSOURCING

14 December 2006 GUIDELINES ON OUTSOURCING CEBS presents its GUIDELINES on OUTSOURCING . The proposed GUIDELINES are based on current practices and also take into account international, such as the Joint Forum, and European initiatives in the field of OUTSOURCING . Following comments received during the first round of consultation, CEBS and the Committee of European Securities Regulators (CESR) have ensured that the proposed GUIDELINES are consistent with the Markets in Financial Instruments Directive (MiFID) and its application to credit institutions. Introduction There is currently no harmonisation at the EU level in the area of OUTSOURCING undertaken by credit institutions and, accordingly, different supervisory approaches have developed across the EU to address the potential risks arising from this practice.

14 December 2006 GUIDELINES ON OUTSOURCING CEBS presents its Guidelines on Outsourcing. The proposed guidelines are based on current practices and also take into account international, such as

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