![A remediation solution for LIBOR transition project teams masthead A remediation solution for LIBOR transition project teams masthead](https://www.nortonrosefulbright.com/-/media/images/nrf/thought-leadership/us/libor.jpg?h=1080&iar=0&w=1920&revision=d55443be-56ad-4e92-90ec-332b57363bd4,5249850100007387904&hash=E379D143BECDF6A3BE11B39D7D7E0974)
NRF Outsourcing Toolkit
Over recent years, financial institutions have increasingly looked to third party outsourced service providers to help support their business – these arrangements reduce costs and improve efficiency. However, with increasing amounts of outsourcing comes greater risk, and regulators across the world are now scrutinising outsourcing arrangements more than ever before. In particular, the EBA Guidelines on Outsourcing have established a prescriptive set of expectations that outsourcing contracts need to meet. This is relevant to both EU and UK firms, and firms should be working to ensure that existing contractual arrangements are updated to align with these Guidelines.
We understand that undertaking this type of contractual remediation exercise can be both complex and time consuming. To help you save time and resource, we have developed the NRF Outsourcing Toolkit, which provides access to a number of key documents that will help you to carry out this exercise. We can also support your remediation work more generally, and have a range of options that we can deploy - from helping on an ad hoc basis to fully managing and running the remediation exercise overall.
Further information on the NRF Outsourcing Toolkit can be found in the brochure. If you would like to discuss further, please get in touch with Hannah McAslan (hannah.mcaslan@nortonrosefulbright.com) or another a member of the team.
![Collage of stock numbers and lights](https://www.nortonrosefulbright.com/-/media/images/nrf/thought-leadership/canada/publications/financial-institutions-stock-light-blur.jpg?h=1080&iar=0&w=1920&revision=,4611686018427387904&hash=CCD2F485674BFAE4555CD008FCBD8D79)
Financial Services: Global Regulation Tomorrow
Helping you keep track of the evolving and increasingly complex global financial services regulatory environment.
Recent blog posts
List of pages
![Financial graphs](https://www.nortonrosefulbright.com/-/media/images/nrf/blog/financial-graphs.jpg?h=1080&iar=0&w=1920&revision=,4611686018427387904&hash=BD05C7D722B7E940A6DC7E80E00A3313)
DNB: outsourcing contracts with large IT suppliers not compliant
On 30 November 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) issued a press release in which the regulator indicates that outsourcing contracts between supervised institutions and a large IT supplier structurally fails to comply with applicable laws and regulations.
![Financial graphs](https://www.nortonrosefulbright.com/-/media/images/nrf/blog/financial-graphs.jpg?h=1080&iar=0&w=1920&revision=,4611686018427387904&hash=BD05C7D722B7E940A6DC7E80E00A3313)
PRA consults on outsourcing and third party risk management
On 5 December 2019, the PRA published Consultation Paper: Outsourcing and third party risk management (CP30/19). In CP30/19 the PRA sets out its proposals for modernising the regulatory framework on outsourcing and third-party risk management.
Recent publications
Publication
Arbitration trends in the Middle East: What to expect in 2024 and beyond
The last several years have seen rapid growth in the Middle East.
Publication
How to make a law firm AI ready: Insights from Lena Haffner at Legal Revolution 2024
On May 14, 2024, Lena Haffner, Innovation Lead Germany at Norton Rose Fulbright, shared her insights on “How do you make a law firm AI ready?" at Legal Revolution 2024, one of Europe’s leading conferences in legal innovation and technology. Her lecture focused on developing a comprehensive roadmap for integrating AI into law firms, emphasizing the importance of developing a robust AI strategy and fostering an innovation-ready culture. Key topics covered in the lecture included strategic planning, skills development, multidisciplinary teamwork, and strong AI governance.
Subscribe and stay up to date with the latest legal news, information and events . . .