CAPI 4.1.6 Effect of outsourcing

(1) Despite anything in this chapter, the outsourcing of an activity or function does not relieve the firm from any regulatory obligations in relation to the outsourced activity or function.
(2) The firm, and its senior management, remain responsible for ensuring that—
(a) all QFC regulatory requirements are complied with in relation to the outsourced activity and function; and
(b) the outsourced activity or function is otherwise properly exercised.

Note Function and exercise are defined in the glossary.
Derived from QFCRA RM/2011-1 (as from 1st July 2011)