Enhancing Third-Party Risk Management and Oversight: Overview of responses to the consultation
On 22 June 2023, the FSB published a consultative document on enhancing third-party risk management and oversight. The consultative document set out a toolkit for financial authorities and financial institutions for their third-party risk management and oversight.
The FSB received 26 responses to the consultation which ended on 22 August 2023. Respondents included trade associations that represent financial institutions (12), regulated financial institutions (5), third-party service providers (4) and others (5). The FSB also organised a workshop on 21 July to gather further feedback on the consultation report.
This document summarises the comments raised in the public consultation and sets out the main changes made to the final report in order to address them.