Outsourcing offers numerous benefits to businesses not least in cost base reduction. We have considerable experience in the field of outsourcing, particularly in the financial services sector where our market knowledge developed by virtue of acting consistently in this field means that we can deliver tailored technical and practical advice.
In advising our clients we also draw on commercial, data, intellectual property, employment and tax specialists from within the firm.
When advising on outsourcing arrangements, whether first or second generation (or beyond), in the financial services sector we have the additional benefit of working alongside the firm’s regulatory and investment management practices. This provides us with an excellent insight into the regulator’s perspective and its benefits are most obviously demonstrated in:
- the needs of material outsourcing under SYSC 8;
- the delegation provisions of AIFMD and the UCITS Directive; and
- the management of exit and transition matters arising from the recent FCA interest in this area.
We regularly advise on arrangements which consolidate service delivery across fund accounting, transfer agency and middle office, rather than such services being provided separately. We are able to draw on the insights provided through our significant experience of reviewing and negotiating such arrangements outside of an outsourcing context; for example, in the context of advising start-up fund managers on their administration arrangements.