OM-3.9.4
For intragroup outsourcing of functions/services containing customer information, the following conditions must also be met:
(a) The outsourcing providers must be annually audited by the group internal audit team and the audit findings must be reported to the CBB;
(b) The service level agreement must clearly state that the CBB inspectors and appointed experts have the legal right to conduct onsite examinations of the outsourcing provider and such expenses are to be borne by the licensee ;
(c) Any report by any other regulatory authority on the quality of controls of the outsourcing provider must be submitted immediately by the licensee to the CBB.
(d) [This sub-paragraph was deleted in October 2017].
Amended: October 2017
Added: July 2016
Added: July 2016