UK Regulates Major Tech Firms to Enhance Cyber Resilience in Financial Sector

The Bank of England has been granted regulatory powers over key tech firms, including Amazon, Google, Microsoft, and Oracle, effective July 13, 2026. This decision aims to ensure the resilience of cloud services critical to the UK financial sector and mitigate risks from cyber-attacks and technology outages. The firms designated as 'critical third parties' must undergo resilience testing and report major incidents to regulators. This move follows significant disruptions in the financial sector due to reliance on these cloud services, including a notable incident in October 2025 that affected over 2,000 companies. The regulation is part of a broader effort to enhance the UK's financial stability amid increasing cyber threats. The companies have expressed support for the initiative, emphasizing the importance of collaboration for a resilient financial ecosystem.

Key Points: • The Bank of England will regulate Amazon, Google, Microsoft, and Oracle starting July 13, 2026. • These firms are classified as 'critical third parties' to the UK financial sector. • The regulation aims to reduce risks from cyber-attacks and technology outages affecting financial stability.