HM Treasury published its much-anticipated Policy Statement ‘Critical Third Parties to the Finance Sector’ setting out the principles for new legislation to be enacted that will permit regulators in the UK to oversee and directly enforce against third parties that provide ‘Critical Services’.
With an admittance from regulators that the current regulatory landscape and powers do not address the systemic concentration risk, there is a move towards brining third parties outside the financial regulatory orbit under greater supervision.
Our experts have written an insight paper, providing expert views and opinions on what the new legislation could mean for the Financial Services Sector. The paper set’s to answer the key question on our clients minds:
How does the increasing reliance on third parties outside the financial regulatory orbit changed regulators strategy and focus?
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