UK Regulators Gain Powers Over Tech Firms
Bank of England and FCA to oversee cloud providers like Amazon, Google, and Microsoft
UK regulators have been granted powers to oversee key tech firms, including Amazon and Google, as reported by The Guardian, in a move to ensure the resilience of the UK's financial system. The Bank of England and the Financial Conduct Authority will aim to reduce the risk of cyber attacks on these "critical third parties", which also include Microsoft and Oracle, as designated on 13 July 2026. This development comes as the FCA cracks down on illegal promotions and market abuse, as seen in its latest press release, and amid warnings of an "arms race" to keep up with AI use in financial services, as discussed in a recent ft.com article. The new regime will give regulators the ability to set resilience standards and receive reports about serious incidents, similar to the oversight of banks, and is unrelated to recent market manipulation cases such as the SK Hynix Market Manipulation scandal.
NewsAnarchist has tracked the same fault lines in its reporting on SK Hynix Market Manipulation, States Sue Paramount-Warner Bros. Merger, and Bloomberg: AI Boom Creates 19 New Billionaires.
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