ESMA consults on cloud outsourcing guidelines

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a consultation paper on guidelines on outsourcing to cloud service providers.

The guidelines’ purpose is to provide guidance on the outsourcing requirements applicable to financial market participants when they outsource to cloud service providers. In particular, they aim to help firms and competent authorities identify, address and monitor the risks and challenges that...