TAI SITCA launched new outsourcing operations reporting platform for securities investment consulting firms to report their respective outsourcing arrangements.
Platform has two main modules: 1. Contract code management (Com0801) and 2. Outsourcing operations report (Com0802); system assigns unique contract codes.
Allows tracking of contract amendments, terminations; supports queries, data export.
Appendix includes the operating manual for investment consulting firms' reference.
Follows Aug. 2023 TAI FSC revised rules for securities/futures servicing firms #181387.
Reporting Requirements
Quarterly updates required by 10th business day of following month for any changes.
Must document contract start date, termination date, and approval requirements.
Required to specify data processing locations, backup arrangements for offshore data.
Effectiveness
Investment consulting firms must register their contract details by Nov. 30, 2024, for all relevant existing outsourcing arrangements valid through Sep. 30, 2024.
