Esma calls for full audits of cloud providers

Regulator says firms must negotiate access rights to books and premises of providers

Keeping up with cloud adoption

Clients of cloud service providers (CSPs) such as Amazon Web Services and Microsoft Azure will have to negotiate contract terms that allow them to supervise the providers’ performance and carry out detailed audits under regulatory guidelines currently out for consultation.

The European Securities and Markets Authority’s (Esma) draft guidelines on cloud outsourcing, published on June 3, map how financial firms and regulators will have to monitor and audit cloud providers. Service providers would

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