SynopsisBritain has designated Microsoft, Google, Amazon, and Oracle as critical third parties. This move brings these major cloud providers under direct regulatory oversight. The government aims to protect the country's financial system from disruptions. Increased reliance on cloud services necessitates this regulatory action. These designations become effective from July thirteenth.Britain on Friday designated cloud service providers Microsoft, Google, Amazon and Oracle as 'critical third parties', bringing them under direct regulatory oversight to protect the country's financial system."As banks, insurers and financial market infrastructures become increasingly reliant on cloud services, disruption at a major supplier could affect multiple firms at the same time, potentially impacting services customers depend on," the government said in a statement.To that end, it designated Microsoft Ireland Operations Ltd, Google Cloud EMEA Ltd, Amazon Web Services EMEA SARL, and Oracle Corporation UK Ltd as critical third parties, effective July 13. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now
UK to regulate cloud service providers Microsoft, Google and others to protect financial stability - The Economic Times
Britain has designated Microsoft, Google, Amazon, and Oracle as critical third parties. This move brings these major cloud providers under direct regulatory oversight. The government aims to protect the country's financial system from disruptions. Increased reliance on cloud services necessitates this regulatory action. These designations become effective from July thirteenth.
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