UK to regulate cloud service providers Microsoft, Google and others to protect financial stability

Short summary

The UK government has designated Microsoft, Google, Amazon, and Oracle as essential cloud providers, triggering new regulatory measures to protect financial sector resilience. The framework introduces stringent testing and reporting protocols to guard against cyber threats and service interruptions. This signals tighter oversight of cloud concentration risk in finance.

• •UK designates Microsoft, Google, Amazon, Oracle as essential cloud providers
• •New rules impose testing and reporting protocols for financial stability
• •Targets cyber threat resilience and service interruption risks

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