Regulatory Alerts2023-07-31
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Microsoft Submission on FMI Standards for Critical Service Providers
Microsoft submitted feedback to the Reserve Bank of New Zealand and Financial Markets Authority regarding the proposed Financial Market Infrastructures Standards for Critical Service Providers. The company argues that prescriptive requirements for enterprise risk management, technology lifecycle planning, and consultation are ill-suited for standardized hyperscale cloud platforms. Microsoft recommends clarifying that FMI operators may use alternative risk mitigation strategies and shifting specific operational obligations from providers to the operators themselves.
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