# Article 32 — Service providers located in third countries (Article 16(2) and first subparagraph of Article 16(5) of Directive 2014/65/EU) **Commission Delegated Regulation (EU) 2017/565 · binding · OJ L 87, 31.3.2017 · dated 25 Apr 2016 [in force]** *In force · Consolidated version of 2 August 2022 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02017R0565-20220802)* 1. In addition to the requirements set out in Article 31, where an investment firm outsources functions related to the investment service of portfolio management provided to clients to a service provider located in a third country, that investment firm ensures that the following conditions are satisfied: **(a)** the service provider is authorised or registered in its home country to provide that service and is effectively supervised by a competent authority in that third country; **(b)** there is an appropriate cooperation agreement between the competent authority of the investment firm and the supervisory authority of the service provider. 2. The cooperation agreement referred to in point (b) of paragraph 1 shall ensure that the competent authorities of the investment firm are able, at least, to: **(a)** obtain on request the information necessary to carry out their supervisory tasks pursuant to Directive 2014/65/EU and Regulation (EU) No 600/2014; **(b)** obtain access to the documents relevant for the performance of their supervisory duties maintained in the third country; **(c)** receive information from the supervisory authority in the third country as soon as possible for the purpose of investigating apparent breaches of the requirements of Directive 2014/65/EU and its implementing measures and Regulation (EU) No 600/2014; **(d)** cooperate with regard to enforcement, in accordance with the national and international law applicable to the supervisory authority of the third country and the competent authorities in the Union in cases of breach of the requirements of Directive 2014/65/EU and its implementing measures and relevant national law. 3. Competent authorities shall publish on their website a list of the supervisory authorities in third countries with which they have a cooperation agreement referred to in point (b) of paragraph 1. Competent authorities shall update cooperation agreements concluded before the date of entry into application of this Regulation within six months from that date. **SECTION 3 — Conflicts of interest**