Article summary
The Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have published a joint consultation paper (B0E/PRA CP26/23, FCA CP23/30), Operational resilience: Critical third parties (CTPs) to the UK financial sector. The proposals include that designated CTPs would have minimum resilience standards in respect of material services they provide to UK financial services firms and financial market infrastructure entities (FMIs). Responses are requested by 15 March 2024.
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