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European Union › Outsourcing › Cloud Service Providers (CSPs)

The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of... more +
The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -
A&O Shearman

ECB publishes final guide on outsourcing cloud services

A&O Shearman on

The European Central Bank (ECB) has published its final guide on outsourcing cloud services, following from a July 2024 consultation. Feedback on the consultation is set out in an accompanying feedback statement. The guide...more

Goodwin

ESMA Cloud Outsourcing Guidelines – Practical Points for Cloud Service Providers and Regulated Entities

Goodwin on

The European Securities and Markets Authority (“ESMA”) Final Report Guidelines on outsourcing to cloud service providers (“the Guidelines”) came into force on 31 July 2021 and apply to all cloud outsourcing arrangements...more

BCLP

Cloud, Data Centre Sale-Leasebacks and the Pandemic - Accelerating Trends for UK and European Regulated Firms

BCLP on

The COVID-19 pandemic has accelerated the two linked trends of financial institutions transferring their IT infrastructure to the cloud and selling their self-owned data centres in order to lease back only the reduced space...more

Jones Day

Model Terms Demanded for Cloud Service Agreements with European Banks

Jones Day on

An interest group of EU banks that was formed to assist European financial institutions with their use of public cloud technology recently suggested model terms for the compliant use of cloud technology. On May 17, 2021,...more

Morgan Lewis - Tech & Sourcing

ESMA Publishes Guidelines on Outsourcing to Cloud Service Providers

Morgan Lewis - Tech & Sourcing on

The European Securities and Markets Authority (ESMA) on May 10 published final guidelines on outsourcing to cloud service providers (ESMA Guidelines) to help firms and competent authorities identify, address, and monitor the...more

McDermott Will & Schulte

[Webinar] McDermottTech 2020 - September 29th, 5:30 pm - 7:45 pm CET

McDermott Will & Schulte on

We invite you to attend McDermottTech 2020, a virtual conference exploring the latest global trends impacting the technology and outsourcing industry. Please join us for this complimentary program on 29 September for the...more

Morgan Lewis - Tech & Sourcing

ESMA Draft Guidelines on Outsourcing to Cloud Service Providers

Morgan Lewis - Tech & Sourcing on

The European Securities and Markets Authority (ESMA) published its draft guidelines on outsourcing to cloud service providers on June 3. Steven Maijoor, the chair of ESMA, indicated that the purpose of the guidelines is to...more

Jones Day

Getting Cautious on Cloud Outsourcing: ESMA Consults on Proposed Guidelines

Jones Day on

The Situation: On June 3, 2020, the European Securities Market Authority ("ESMA") published a consultation paper on Outsourcing to Cloud Service Providers ("Proposed Guidelines"), which will apply to any institution under the...more

Latham & Watkins LLP

EIOPA Issues Final Guidelines on Outsourcing

Latham & Watkins LLP on

The final guidelines create new obligations for insurers that will impact cloud outsourcing arrangements. On 6 February 2020, the European Insurance and Occupational Pensions Authority (EIOPA) published its final...more

A&O Shearman

European Banking Authority Publishes Revised Guidelines on Outsourcing Arrangements

A&O Shearman on

The European Banking Authority has published revised Guidelines on outsourcing arrangements. The guidelines are intended to update and replace outsourcing guidelines issued in 2006 (by the EBA's predecessor, the Committee of...more

Morgan Lewis

European Banking Authority Issues Recommendations for Outsourcing to Cloud Service Providers

Morgan Lewis on

European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking...more

Pillsbury Winthrop Shaw Pittman LLP

Cloud Computing by EU Financial Institutions Gets a New Rule Book

Pillsbury Winthrop Shaw Pittman LLP on

Financial institutions should take note of, and make every effort to comply with, the European Banking Authority’s new cloud computing guidance which will be effective from 1 July 2018. In order to clarify EU-wide...more

A&O Shearman

European Banking Authority Publishes Recommendations on Outsourcing by Financial Institutions to Cloud Service Providers

A&O Shearman on

The European Banking Authority has published its final report on Recommendations on outsourcing by financial institutions to cloud service providers. The EBA has developed the Recommendations on its own initiative as part of...more

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