More and more firms are wading into the outsourcing pool, and outsourcing compliance is top of mind for some companies as they look for cheaper or more convenient options or for those seeking to hire a vendor that specializes in certain data management or information services. In addition, small firms may seek to outsource their entire compliance department and CCO position, usually to a law firm or compliance consultant.
While outsourcing compliance functions has increased in popularity, it is still not used by the majority of practitioners who responded to a recent Thomson Reuters survey.
