China's New Guidance on Outsourcing Risk Management

China boardroom update - Issue 6, August 2010

On 7 June 2010, the China Banking Regulatory Commission (CBRC) published the "Banking Financial Institutions Outsourcing Risk Management Guidance". This Guidance has been long-awaited, having first appeared in the form of a consultation paper in early 2008. It sets out stringent requirements on outsourcing risk management of the financial services industry, and represents another challenge for financial institutions to implement effectively.

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