9.2.1. Responsibility for service providers

A Relevant Person which outsources any one or more elements of its CDD to a service provider (including within its Group) remains responsible for compliance with, and liable for any failure to meet, such obligations.

Guidance on outsourcing

A Relevant Person should conduct appropriate due diligence to assure itself of the suitability of a service provider and should ensure that the provider’s obligations are clearly documented in a binding agreement.

For general requirements regarding outsourcing refer to GEN 5.2.