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The Bank of England proposes new rules to curb reliance on big tech
The Bank of England, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have issued a consultation proposing new rules to regulate the finance sector's reliance on "critical third parties", or CTPs
The BoE proposes introducing a framework to designate certain tech firms that provide vital services to financial institutions as CTPs. CTPs would be subject to regulatory requirements to enhanc...
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