GovWire

Policy paper: Memorandum of Understanding between the Bank of England, FCA and PRA

Hm Treasury

November 12
10:51 2024

class="gem-c-govspeak govuk-govspeak gem-c-govspeak--direction-ltr govuk-!-margin-bottom-0">

The Financial Services and Markets Act 2000 was amended in 2023 to address the risk to UK financial stability arising from the outsourcing of critical services by firms and financial market infrastructures to third party suppliers.The Act provides powers for the financial regulators to oversee the critical services of CTPs to the UK financial sector designated by HM Treasury.

This Memorandum of Understanding sets out how the financial regulators will co-ordinate, through a joint CTP Consultation and Coordination Forum, the exercise of their CTP functions.

Updates to this page

Published 12 November 2024

Sign up for emails or print this page

Recent Comments

Follow Us on Twitter

Share This


Enjoyed this? Why not share it with others if you've found it useful by using one of the tools below: