UK regulators bring Microsoft, Google, Amazon, Oracle under financial oversight
The UK government has designated major cloud providers, including Microsoft, Google, Amazon, and Oracle, as 'critical third parties' to the financial sector. This classification places their cloud operations under direct regulatory supervision for the first time. The move comes in response to growing dependence on cloud services by financial institutions across the country. The new framework is designed to strengthen the resilience of the UK's financial system. The regulations are set to take effect on July 13.
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