Malta:
MFSA Issued A Circular On Banking Rule BR/14 Relating To Outsourcing To Cloud Service Providers
11 March 2019
Ganado Advocates
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On 4 February 2019, the MFSA issued a circular on Banking Rule
BR/14 which circular notifies credit institutions of the inclusion
of an Annex to the BR in relation to the outsourcing to cloud
service providers. The amendments to the BR came into force with
immediate effect. The MFSA issued another circular to notify
Financial Institutions of the same. Basically the scope of the
Annex is to implement the EBA Recommendations on Outsourcing to
Cloud Service Providers (EBA/REC/2017/03) which were issued by the
EBA on 20 December 2017 and applicable as of 1 July 2018. The Annex
is a 'copy and paste' from the EBA Recommendations, pages
12 to 19.
Circular to Credit
Institutions
Circular to Financial
Institutions
Annex 1
EBA Recommendation
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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