Article 9
Criteria for ensuring that outsourcing assessment activities does not materially impair ESMA’s ability to supervise compliance of external reviewers
When ensuring that outsourcing does not materially impair ESMA’s ability to supervise external reviewers’ compliance with Regulation (EU) 2023/2631, external reviewers shall ensure that the following criteria are fulfilled:
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(a) |
an appropriate level of documentation and recordkeeping of all the names and positions of the persons responsible for approving and monitoring the outsourcing is maintained; |
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(b) |
the third-party service provider is capable of providing the external reviewer with all the necessary information concerning outsourced assessment activities required by the external reviewer to demonstrate the external reviewer’s compliance with Regulation (EU) 2023/2631; |
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(c) |
where assessment activities are outsourced to a third-country third-party service provider, the external reviewer and the third-party service provider have in place procedures ensuring the management of risks arising from the following:
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