UK financial regulators to begin overseeing Critical Third Parties announced by HM Treasury
Summary
The Bank of England, PRA and FCA will begin jointly overseeing the first designated Critical Third Parties from 13 July 2026, following HM Treasury designations of four major cloud and technology providers. The new regime is intended to improve resilience in services that underpin the UK financial system, while leaving regulated firms responsible for their own outsourcing and operational resilience arrangements.
Why it matters
Residential property surveyors may be affected indirectly where valuation, lending, client money, or other property-sector services depend on regulated financial firms and their technology suppliers. The announcement reinforces the importance of third-party resilience and continuity planning across the wider property and finance ecosystem.
Key points
- Joint oversight of Critical Third Parties starts on 13 July 2026.
- HM Treasury has designated four providers: AWS, Google Cloud, Microsoft and Oracle.
- The regime focuses on system-wide resilience and reducing disruption risk.
- Regulated firms still remain responsible for their own outsourcing and contingency arrangements.
- The regulators will review designations and the effectiveness of the oversight approach.
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