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By Nathan Travell, Product Manager – EMEA, Milestone Group
Trust is a critical component of any outsourced relationship. However, as last November’s thematic review from the FCA makes clear, trust alone is no longer enough. Successful relationships between a fund manager and its service providers depend on striking the right balance between trust and control.
Finding the right level of oversight for outsourced fund accounting is a case in point. The FCA review follows an earlier Dear CEO letter that focused on resilience risk: in other words what would happen if the service provider went out of business. Although the consequences would be significant, this scenario is highly unlikely.
In its thematic review, the FCA focused on...
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