Hani Banayoti

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New UK Regulation On The Horizon For Financial Sector ‘Critical Third Parties’

By |2024-04-22T09:49:55+01:00April 22nd, 2024|Law/Regulation|

The Bank of England’s “CP26/23” consultation paper is a significant document that proposes a regulatory framework for critical third parties (CTPs) in the UK financial sector. Similar to the EU's DORA, it aims to ensure these CTPs, which provide essential services that could affect financial stability if disrupted, manage their operational resilience effectively.