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Guidance on the JFSC 1 JAN 2024 revised outsourcing policy.

04/12/2023
  1. Following a six-month transitional period, the JFSC revised its outsourcing policy (Revised OSP), effective January 1st, 2024.
  2. The revised Outsourcing Notification and new Material Change to Outsourcing Notification can now be found in a Word version under Appendix A of the final Revised OSP.
  3. NOTE:-
    • There will be no notification in myJFSC before 1 January 2024.
  4. Throughout December, all outsourcing notifications under the current outsourcing policy and guidance notes should continue to be made through myJFSC using the existing functionality.

What is ‘Outsourcing’ and the 7 Core Principles under the Revised OSP

Outsourced Activity that is newly caught under the Revised OSP

Outsourced Activity that is newly exempt under the Revised OSP

Other key changes

The revised Outsourcing Notification and the new Material Change to Outsourcing Notification

  1. In amending the Revised OSP to include the revised Outsourcing Notification and the new Material Change to Outsourcing Notification under Appendix A, the JFSC took the opportunity to make some other clarifications and enhancements to the document. You can see exactly what has been changed in this version of the Revised OSP with tracked changes.
  2. Demo
  • The JFSC will also be hosting a demonstration of the functionality of the revised Outsourcing Notification and new Material Change to Outsourcing Notification.
  • This will occur on Friday, 8 December, at 10 am.
  • If you wish to attend, please email your details to n.ryan@jerseyfsc.org.
  1. Should you have any questions on the Revised OSP,

SOURCES

https://www.jerseyfsc.org/news-and-events/guidance-on-our-revised-outsourcing-policy/

JERSEY

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

news disclaimer -

As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.