• BigTwerp@feddit.uk
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    4 days ago

    This is specifically only for cloud services provided by e.g. Amazon to financial institutions.

    It’s an extension of existing powers already applied to the companies that handle financial data.

    So… Not only is the BoE the right people to to it, they are probably the only people with the expertise to do it.

    • TheJesusaurus@piefed.ca
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      4 days ago

      Excellent. I kind of thought that might be the case but that’s not really regulating big tech… It’s regulating commercial finance, which presumably they had the remit and powers to do already