On 10 December 2025 the Basel Committee on Banking Supervision published its Principles for the sound management of third-party risk, a 22-page Guidelines publication setting out 12 principles for how banks and their supervisors handle the providers now sitting inside almost every banking process. For the banking sector it supersedes the 2005 Joint Forum paper…
On 13 July 2026 the Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority begin overseeing the first firms brought inside the UK Critical Third Parties regime. HM Treasury announced the designations three days earlier, on 10 July 2026, but the designations themselves take legal effect only from 13 July 2026, the…
SS2/21 is the PRA’s supervisory statement on outsourcing and third-party risk management. Its main scope covers UK banks, building societies and PRA-designated investment firms; insurance and reinsurance firms and groups in scope of Solvency II, including Lloyd’s and managing agents; and UK branches of overseas banks and insurers. It has been the working reference for…