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BoE, PRA and FCA consult on operational resilience of critical third parties

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Published on: 07 December 2023

Published by LNB News

LNB News 07/12/2023

Document Information

Issue Date: 07 December 2023

Published Date: 07 December 2023

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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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