What customers need to know about implementing the UK regime for critical third parties
Industries Blog
The article discusses the UK financial services authorities' new regime for Critical Third Parties (CTPs), focusing on key regulatory requirements for technology providers serving the financial sector.
- Regime introduces Systemic Third-Party Services (STPS) concept
- Came into force on 1 January 2025, with first designations expected in mid-2025
- Requires CTPs to perform scenario testing and incident management exercises
- Aims to manage risks to UK financial system stability
- Does not eliminate accountability of financial firms for third-party risks
AWS is preparing for potential designation as a CTP and will support customers in understanding and managing operational resilience requirements.
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