AWS for Industries
Author: Michael Jefferson
Michael Jefferson is head of Financial Services Public Policy UK, Middle East, Africa and Switzerland at AWS. He is also co-lead for Financial Stability Board (FSB) engagement. Michael leads on policy and engagement for issues relating to adoption and use of cloud across the finance sector. He has experience working in technology, trade associations, investment banking and the UK Government. Before joining AWS, he led on capital markets policy at the Investment Association and prior to that at UK Finance, representing the UK-based banking and finance industry. Previously, he was head of Public Policy EMEA at Nomura and spent the early part of his career as a UK civil servant working on international trade and business issues, including working in the office of the UK Minister for Trade and Investment.
What customers need to know about implementing the UK regime for critical third parties
On 12 November 2024, the UK financial services authorities (Bank of England (BoE), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)) published the final documents on the critical third parties (CTPs) to the UK financial sector regime (‘the regime’). These documents confirm the approach to and details of implementation of the regime, which will […]
UK regime for critical third parties and its impact on financial services customers
As the proposed regime for critical third parties (CTPs) to the UK financial services sector continues to progress, financial institutions are interested in assessing and understanding the impact that working with a designated CTP will have on their reporting requirements and regulatory expectations around operational resilience. The Financial Services and Markets Act 2023 allows HM […]
AWS responds to Financial Stability Board (FSB) consultation on delivering global interoperability in third-party risk management regimes for financial services
In June, the Financial Stability Board (FSB) published a consultation, Enhancing Third-Party Risk Management and Oversight: A toolkit for financial institutions and financial authorities, that aims to reduce fragmentation of regulatory and supervisory approaches to financial institutions’ (FIs) third-party risk management (TPRM) and deliver and support a more harmonized approach across all jurisdictions. The consultation […]
What AWS Customers Need to Know About UK Proposals on Oversight of Finance Sector and Critical Third Parties
Following the 8 June 2022 HM Treasury’s policy statement on critical third parties, on 21 July 2022, the UK regulatory authorities, the Bank of England (BoE), Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA) published a joint discussion paper: Operational resilience: Critical third parties to the UK financial sector. The paper sets out detailed […]