We recently highlighted the Morgan Lewis financial services team’s overview of proposed guidance released by the three federal banking agencies with respect to third-party relationships within the fintech industry. The federal banking agencies, though, are not alone when it comes to guidance on third-party vendors.
Earlier this month, the Financial Industry Regulatory Authority (FINRA) published guidance with respect to obligations and considerations when working with third-party vendors. As outlined by our investment management team, the newest FINRA Regulatory Notice 21-29 provides a roadmap on how firms should consider the decision to outsource certain functions and evaluate potential vendors.
Read the full LawFlash on FINRA Regulatory Notice 21-29 >>
If you have any questions or would like more information about recent regulatory guidance or best practices, please reach out to the authors or your Morgan Lewis contact.