Article 6 Termination of the contract between the financial entity and the ICT third-party service provider


The financial entity shall have the right to provide in the contractual arrangement with the ICT third-party service provider means an undertaking providing ICT services; that the contractual arrangement is to terminate in each of the following cases:

  1. the financial entity has objected to material changes to the subcontracting arrangements supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; and requested for modifications to those arrangements, but the ICT third-party service provider means an undertaking providing ICT services; has nevertheless implemented those material changes;

  2. the ICT third-party service provider means an undertaking providing ICT services; has implemented material changes to subcontracting arrangements supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; or material parts thereof before the end of the notice period without approval by the financial entity;

  3. the ICT third-party service provider means an undertaking providing ICT services; subcontracts an ICT service that supports a critical or important function means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; or material part thereof not explicitly permitted to be subcontracted by the contract between the financial entity and the ICT third-party service provider means an undertaking providing ICT services;.

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Springflod is a Swedish boutique consultancy firm specialising in cyber security within the financial services sector.

We offer professional services concerning information security governance, risk and compliance.

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