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

Short summary

The UK has designated Microsoft, Google, Amazon, and Oracle as critical third parties, bringing them under direct regulatory oversight effective July 13. The move aims to protect Britain's financial system from disruptions caused by increasing reliance on cloud services. This marks a significant step in extending financial-sector regulation to major cloud infrastructure providers.

• •UK designates Microsoft, Google, Amazon, and Oracle as critical third parties
• •Regulation effective July 13 to protect financial system from cloud disruptions
• •Cloud providers now under direct UK financial regulatory oversight

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