ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)
Guideline 2: Pre-outsourcing analysis and due diligence – ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)

ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403) 22: Evaluate the suitability of the cloud service provider for critical or important functions

What does 22 require?

Due diligence for critical or important functions includes an evaluation of the CSP's suitability: the firm makes sure the CSP has the business reputation, skills, resources (human, IT and financial), organisational structure and, where applicable, the authorisations or registrations to perform the function reliably and professionally and to meet its obligations for the life of the arrangement. Further factors include how the CSP manages information security, above all how it protects personal, confidential and other sensitive data, its service support including support plans, contacts and incident management processes, and its business continuity and disaster recovery plans.

Maintained by Gerard Blokdyk

Other controls in Guideline 2: Pre-outsourcing analysis and due diligence – ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)

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