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Google Cloud designated Critical Third Party for UK financial sector

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announcement

Google Cloud has been designated a Critical Third Party (CTP) by the UK Treasury, signifying its importance to the UK financial sector's operational resilience. This designation means Google Cloud EMEA will be directly overseen by UK financial regulators, including the Bank of England, PRA, and FCA. The company is committed to supporting its UK financial customers in meeting their operational resilience and third-party risk management obligations.

  • →Google Cloud designated Critical Third Party for UK financial sector
  • →Support for customer operational resilience obligations
Notes (2) ›
  • Google Cloud designated Critical Third Party for UK financial sector

    Google Cloud EMEA has been designated a Critical Third Party (CTP) by the U.K. Treasury under the CTP regime, recognizing its significance to the UK financial sector. This designation will lead to direct oversight by the Bank of England, Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) to build sector-wide operational resilience.

  • Support for customer operational resilience obligations

    Google Cloud will continue to support UK financial firms in meeting their operational resilience, outsourcing, and third-party risk management requirements, including guidance related to PRA Supervisory Statements SS1/21 and SS2/21. The CTP regime is designed to complement, not replace, these existing regulatory requirements.

Read the original announcement →

https://cloud.google.com/blog/products/identity-security/contributing-to-uk-financial-sector-resilience-as-a-critical-third-party/

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