In hopes of protecting the UK's financial system from the impact of cloud outages, HM Treasury announced Friday that four cloud infrastructure providers will be subject to increased oversight by the country's financial services regulators.
AWS, Google, Microsoft, and Oracle have been deemed "critical third parties," and that means they'll get to know regulators from the Bank of England, Prudential Regulation Authority and Financial Conduct Authority a lot more closely over the next few months. "Through the new regime, the regulators will be able to gather information, assess resilience, and work with third parties to address risks to the continuity of critical services, including through making and enforcing CTP-specific rules where necessary," HM Treasury said in a press release.
