EU DORA and UK designate cloud providers

Financial regulators in the EU and the UK have placed major cloud providers, including Microsoft, AWS, and Google Cloud, under direct supervision to manage systemic concentration risk in financial systems. The regulatory frameworks, such as Europe's DORA and the UK's Critical Third Parties regime, focus on resilience, incident recovery, and exit planning rather than preventing outages altogether. Meanwhile, the Financial Stability Board is developing indicators for AI model providers, which the author argues will likely face similar designation within one to two years. Open article →