Third-party ICT service policy

Preamble (Recitals 1 – 13)

Recitals

Article 1

Overall risk profile and complexity

Article 2

Group application

Article 3

Governance arrangements

Article 4

Main phases of the life cycle for the adoption and use of contractual arrangements

Article 5

Ex-ante risk assessment

Article 6

Due diligence

Article 7

Conflicts of interest

Article 8

Contractual clauses

Article 9

Monitoring of the contractual arrangements

Article 10

Exit from and termination of the contractual arrangements

Article 11

Entry into force

Article 7 Conflicts of interest

  1. The policy shall specify the appropriate measures to identify, prevent and manage actual or potential conflicts of interest arising from the use of ICT third-party service providersan undertaking providing ICT services that are to be taken before entering relevant contractual arrangements and shall provide for an ongoing monitoring of such conflicts of interest.

  2. Where ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services supporting critical or important functionsa function the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law are provided by ICT intra-group service providersan undertaking that is part of a financial group and that provides predominantly ICT services to financial entities within the same group or to financial entities belonging to the same institutional protection scheme, including to their parent undertakings, subsidiaries, branches or other entities that are under common ownership or control, the policy shall specify that decisions on the conditions, including the financial conditions, for the ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services are to be taken objectively.

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