Joint Regulatory Technical Standards on subcontracting ICT services supporting critical or important functions

These Regulatory Technical Standards (RTS) set out requirements and conditions for the use of subcontracted ICT services supporting critical or important functions or material parts. In particular, the RTS require that financial entities assess the risks associated with subcontracting during the precontractual phase; this includes the due diligence process. They also set out requirements regarding the implementation, monitoring and management of contractual arrangement regarding the subcontracting conditions for the use of ICT services thereof ensuring that financial entities are able to monitor the entire ICT subcontracting chain.