Regulatory Alerts2025-07-29
Joint Communication 2 of 2025 on Cloud Computing and Data Offshoring
The Financial Sector Conduct Authority and Prudential Authority issued Joint Communication 2 of 2025 to establish risk mitigation measures and best practices for financial institutions utilizing cloud computing and data offshoring. The document mandates that boards and senior management implement robust governance frameworks, conduct due diligence on strategic investments, and ensure data confidentiality, integrity, and availability. It further signals the imminent publication of a binding Joint Standard to formalize these requirements across the financial sector.
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