The Bank of England, PRA and FCA set out potential measures to oversee critical third parties in a move to increase resilience of the financial sector

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The Bank of England, PRA and FCA set out potential measures to oversee critical third parties in a move to increase resilience of the financial sector

In 2022, the Bank of England, the PRA, and the FCA (the "supervisory authorities") launched a landmark initiative to address the systemic risks posed by Critical Third Parties (CTPs).

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