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UK’s ‘critical third parties’ quizzed on costs of applying operational resilience standards

( April 11, 2023, 11:49 GMT | Official Statement) -- MLex Summary: The UK’s Financial Conduct Authority has asked “critical third parties” to the financial sector to complete a survey on their estimated costs of applying minimum operational resilience standards. The FCA, together with the Bank of England and the Prudential Regulation Authority, set out in a discussion paper in July 2022 what standards for third-party suppliers such as cloud service providers could look like. Respondents to the FCA’s survey are asked to estimate their costs of complying with a regime “along the lines” as that set out earlier. The FCA said the results would help inform future consultations.Statement below...

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