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third party processor

      1. 1720(1) A firm ("Firm A") which carries on23 home finance activities 23 or insurance mediation activities27 other than advising on life policies,27 or both, for another firm (or an appointed representative) ("Firm B") under a properly documented outsourcing agreement, the terms of which provide that when Firm A carries on any of these activities ("the outsourced activities") for Firm B:
        1. (a) Firm A acts only on the instructions of Firm B;
        1. (b) in any communication with a customer, Firm A represents itself as Firm B;
        1. (c) Firm A undertakes to co-operate fully with Firm B in relation to any complaints arising from Firm A's performance of the outsourced activities, even if the complaint is made after Firm A has ceased to carry on the outsourced activities for Firm B; and
        1. (d) Firm B accepts full responsibility for the acts and omissions of Firm A when carrying on the outsourced activities and must pay any redress due to the customer;
        or an appointed representative ("Firm A") which carries on such activities for its principal ("Firm B") under such an agreement.20
      1. (2) A firm ("Firm C") which carries on23 home finance activities 23 or insurance mediation activities27 other than advising on life policies,27 or both, for a third party processor within (1) ("Firm A"), where:
        1. (a) the outsourcing agreement between Firm A and the firm for which Firm A is carrying on outsourced activities ("Firm B") authorises Firm A to outsource some or all of those activities to third parties which are firms, and identifies Firm C by name as one of those third parties;
        1. (b) under the outsourcing agreement between Firm A and Firm B, Firm B accepts full responsibility for the acts and omissions of Firm C when carrying on the activities which are outsourced to it by Firm A; and
        1. (c) there is a properly documented outsourcing agreement between Firm C and Firm A the terms of which provide that when Firm C carries on any of the outsourced activities:
          1. (i) Firm C acts only on the instructions of Firm A;
          1. (ii) in any communication with a customer, Firm C represents itself as Firm B; and
          1. (iii) Firm C undertakes to co-operate fully with Firm A and Firm B in relation to any complaints arising from Firm C's performance of the outsourced activities, even if the complaint is made after Firm C has ceased to carry on the outsourced activities for Firm A.20