AWS designated as critical third party to UK financial sector

Amazon Web Services EMEA Sarl (AWS) has been designated as a critical third party (CTP) to the UK financial sector by HM Treasury, according to a company statement.

The CTP regime took effect on January 1, 2025, establishing a framework through which the Bank of England, the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) can set requirements on and maintain direct oversight of designated CTPs.

Under the regime, AWS will be subject to requirements relating to its designated Systemic Third-Party Services (STPS). The company said its first obligation is to conduct a self-assessment of these services against the CTP regime criteria, which it will carry out in line with regulators' expected timelines.

The UK regulators have clarified that the requirements under the regime do not eliminate, reduce, or replace the accountability of firms, their boards, and senior management for maintaining operational resilience, including when they rely on services provided by third parties.

AWS said the regime does not change obligations on financial services customers of designated CTPs. The company indicated it expects to publish materials that customers can use to inform their own operational resilience planning and third-party risk management.

AWS said it has actively engaged with UK authorities during the development of the CTP regime and will continue that approach as it works to meet its obligations.

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