Consultation on revised Outsourcing Policy (Revised OSP)
We are issuing this consultation in accordance with Article 8(3) of the Commission Law, under which the JFSC “may, in connection with the carrying out of its functions […] consult and seek the advice of such persons or bodies whether inside or outside Jersey as it considers appropriate”.
Comments on the draft Revised OSP should be received no later than 31 August 2022.
1. Have you identified any unintended consequences of exempting Telecommunication Services from the application of the Revised OSP?
2. Do you consider the specific guidance in the Revised OSP in relation to where a Service Provider performs Outsourced Activity in the form of Cloud Services to be adequate?
If not, please provide further detail in the comments section of this question.
3. Have you identified any unintended consequences of a Business not being required to notify us of any of its Cloud Services Sub-Outsourcing arrangement(s)?
4. Have you identified any unintended consequences or unusual results due to the requirement for all Supervised Persons having to comply with the Revised OSP?
5. Have you identified any unintended consequences of Managed Trust Company Business (MTCB) being exempt from the application of the Revised OSP?
6. Do you consider the revised OSP to read more clearly, easily and simply, therefore making it more ‘user-friendly’ than the current OSP and Guidance Notes?
7. Do you consider the specific guidance in the Revised OSP in relation to each Core Principle, Sub-Outsourcing, Group Outsourcing and the Outsourcing Notification process to be adequate?
If not, please provide further detail in the comments section of this question.
8. Do you consider the Transition Period to be appropriate and proportionate?
If not, please provide further detail in the comments section of this question.