U.K., Oct. 20 -- UK Parliament issued the following news:
The Treasury Committee Chair has written to the Governor of the Bank of England and the Chief Executive of the Financial Conduct Authority (FCA) about today's Google Cloud outage affecting a number of organisations, including banks .
Read the letter
In January this year, the Treasury Committee published a report recommending that the government should use its powers under the Critical Third Parties regime to designate AI and cloud providers deemed critical to the financial services sector in order to improve oversight and resilience.
In July, the Treasury designated the following four companies under the regime:
Microsoft Ireland Operations Limited
Google Cloud EMEA Limited
Amazon Web Services EMEA SARL
Oracle Corporation UK Limited
The Committee's Chair, Dame Meg Hillier, has written to the Bank and the regulator with a series of questions. These seek to establish how they will use their powers in relation to this incident.
Further information
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