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Reviewing outsourcing arrangements
It is common for regulators only to permit financial services businesses to outsource their activities to other firms if they review the policies and procedures of the firms providing the outsourced services. This could be back-office services or it could be introducers of business who provide certificates confirming the verified identity of customers they introduce. Le Marchant offers a service to carry out on-site reviews of firms to whom the activity is outsourced to ensure that those firms operate to acceptable standards, have a similar risk profile to the outsourcer or are working within the terms of a service level agreement.