Are material business activities of the Trustee that are performed by a subsidiary of the trustee, whether wholly owned or not, captured by the Outsourcing Standard?
APRA expects all material business activities of the trustee that are carried out by the subsidiary to satisfy the requirements of the outsourcing operating standard. This is consistent with the intent of the standard that outsourced functions are subject to appropriate due diligence, approval and on going monitoring and are not removed from the reach of the prudential regulator.
