City regulators are set to regulate tech firms crucial to UK banks starting January, addressing concerns over cyber-attacks impacting financial stability.
The regulation will involve oversight of services like cloud storage and AI, including mandatory reporting of incidents to avert banking disruptions.
Firms like Amazon Web Services and Google, which currently support major UK banks, are expected to be included in the regulatory framework.
Rachel Reeves recently emphasized the importance of US tech investments in the UK, balancing regulatory needs with the desire to attract innovation.
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