ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)
Guideline 5: Exit strategies – ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)

ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403) 31: Be able to exit critical or important cloud arrangements without undue disruption

What does 31 require?

For critical or important functions a firm makes sure it could leave the arrangement without unduly disrupting its business or its service to clients, without falling out of compliance with the law that applies to it, and without harming the confidentiality, integrity or availability of its data. For that it keeps exit plans that are thorough, written down and adequately tested, updating them when needed and whenever the outsourced function changes; it identifies alternatives and writes transition plans for moving the function and the data off the CSP, and off any sub-outsourcer, to a different provider or back in house, allowing for the difficulties the data's location may raise and keeping the business running through the move; and it makes sure the agreement obliges the CSP to assist an orderly handover of the function and its data processing, which where relevant includes securely deleting the data from the CSP's and any sub-outsourcer's systems.

Maintained by Gerard Blokdyk

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