LONDON (Reuters) – Britain’s financial watchdog will have powers to directly oversee cloud computing firms like Amazon and Microsoft which provide “critical” services to financial firms, the finance ministry said on Wednesday.
“This will enable the regulators to ensure that services critical third parties provide to firms in the finance sector are resilient, thereby reducing the risk of systemic disruption,” the finance ministry said in a statement.
(Reporting by Huw Jones; Editing by Toby Chopra)
