(Article 16(2) and of Article 16(5) first subparagraph of Directive 2014/65/EU)
1. Investment firms outsourcing critical or important operational functions shall remain fully responsible for discharging all of their obligations under Directive 2014/65/EU and shall comply with the following conditions:
(a) the outsourcing does not result in the delegation by senior management of its responsibility;
(b) the relationship and obligations of the investment firm towards its clients under the terms of Directive 2014/65/EU is not altered;
(c) the conditions with which the investment firm must comply in order to be authorised in accordance with Article 5 of Directive 2014/65/EU, and to remain so, are not undermined;
(d) none of the other conditions subject to which the firm's authorisation was granted is removed or modified.
2. Investment firms shall exercise due skill, care and diligence when entering into, managing or terminating any arrangement for the outsourcing to a service provider of cr
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