Common use of Outsourcing/delegation Clause in Contracts

Outsourcing/delegation. Where a Covered Entity outsources or delegates any of its functions (in particular, but not limited to, critical or important operational functions, portfolio management and/or risk management) to a Person located in the other jurisdiction, the Home Authority of the relevant Covered Entity may request assistance in accordance with this MMoU, from the Authority in which jurisdiction the outsourcee/delegatee is established. Such assistance should allow the home Authority to undertake its supervisory tasks, receive information on the supervisory regime of the requested authority and ensure all entities are effectively supervised.