The UK regulators have published a joint consultation setting out the requirements for service providers identified as critical third parties (CTPs) to the UK financial sector. The main thrust of the new regulation is to ensure the stability of the UK financial system as well as the management of risks
UK regulators launch consultation on critical third party rules
In a move intended to manage systemic risk and stability, the FCA, PRA and BoE set out requirements for third service providers designated as critical third parties.