UK regulators address critical third party operational resilience in financial sector

The FCA, PRA and BoE set out final requirements and expectations in order to manage potential systemic risk posed by tech firms.

The new practice statement (PS24/16), along with the supervisory statement (SS6/24), set out the oversight regime for those technology firms designated as critical.

The objective of the regulatory regime is ensuring that the failure of or disruption to the services provided by a technology firm does not compromise the stability

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