Article
The EU’s New Regime For Third-Party Providers Of Non-ICT Services: Contractual Requirements
The European Banking Authority has introduced comprehensive new guidelines governing third-party risk management for non-ICT services, fundamentally reshaping how financial institutions must structure and manage their vendor relationships. These guidelines mandate specific contractual provisions and impose strict timelines for compliance, with existing arrangements requiring alignment within two years for critical functions. Financial services entities must now navigate a more prescriptive regulatory framew
A&O Shearman