outsourcing

1. 28(1) (except in SYSC 8) the use of a person to provide customised services to a firm other than:28
   1. (a) a member of the firm's governing body acting in his capacity as such; or28
   2. (b) an individual employed by a firm under a contract of service.28
2. (2) (in SYSC 8, and the definition of relevant person) an arrangement of any form between a firm and a service provider by which that service provider performs a process, a service or an activity which would otherwise be undertaken by the firm itself.28

[Note: article 2(6) of the MiFID implementing Directive]28