UK to regulate cloud service providers Microsoft, Google and others to protect financial stability
Regulators will require the firms to improve outage response and recovery after repeated cloud failures exposed concentrated risk across the finance sector.
- On Friday, The Treasury designated Microsoft, Google, Amazon Web Services, and Oracle as critical third parties , mandating robust operational safeguards for the UK's financial sector.
- Britain's public sector relies heavily on US hyperscalers, with 99% of bodies dependent on these systems, creating systemic vulnerabilities when outages occur across major cloud regions.
- Researchers at the Cyber Monitoring Centre found 39% of UK firms reported a cloud outage in the past year, with potential 24-hour losses reaching $1.34 billion.
- Policymakers designed the CTP framework to strengthen financial resilience; Google Cloud stated, "We are confident that meaningful industry engagement can enhance the long-term resilience of the UK."
- Geopolitical exposure and the US CLOUD Act remain concerns amid calls for digital sovereignty, requiring coordinated action between companies, regulators, and policymakers to manage risks effectively.
17 Articles
17 Articles
On Friday, the United Kingdom designated cloud service providers Microsoft, Google, Amazon and Oracle as critical third parties, placing them under direct regulatory supervision in order to protect the country's financial system. Exclusive subject matter for subscribers. To have full access, access the link of the subject and register.
UK puts Microsoft, Google, Amazon, Oracle under new oversight: Here’s why
The UK has designated Microsoft, Google, Amazon and Oracle as critical third parties to the country's financial system, bringing the four cloud giants under direct regulatory oversight for the first...
UK to regulate cloud service providers Microsoft, Google and others to protect financial stability
Britain has designated cloud service providers Microsoft , Google , Amazon and Oracle as critical third-party suppliers to its financial sector, bringing them under direct regulatory oversight.
Britain's US cloud habit is now a billion-pound risk
Britain’s public sector has become deeply reliant on a small number of US cloud giants, and analysts warn the concentration is now a strategic risk. Nearly all UK government organisations spend on hyperscale cloud, with the dependency running into billions of pounds a year. Some 95% of central and local public-sector bodies spent on hyperscale […] This story continues at The Next Web
Britain's cloud habit has become a billion-pound risk
Amid calls for digital sovereignty, a report warns that more than 60 percent of UK companies depend on cloud services for critical functions, and an outage in one or more of the big providers could prove costly. Researchers at the Cyber Monitoring Centre nonprofit found a high level of cloud dependence among British firms, rising to more than 80 percent among FTSE 100 firms, and say this means cloud outages will disproportionately affect some of…
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