The UK government designated Microsoft, Google, Amazon, and Oracle as critical third parties for the national financial sector. This move places their cloud computing services under direct regulatory supervision starting July 13, 2026. The designation applies specifically to the European and UK-based entities of these four companies.
The Bank of England, the Prudential Regulation Authority, and the Financial Conduct Authority will jointly oversee these firms. This decision aims to bolster financial stability by managing risks from the industry's concentrated reliance on a few cloud providers. Regulators now hold the power to set resilience rules and address potential service disruptions.