GovWire

This paper outlines HM Treasurys approach to designating critical third parties to the UK financial services sector.

The paper outlines the end-to-end process: from receipt of a recommendation from the financial regulators; through engagement with the third party supplier, the financial regulators, and other relevant organisations; to the consideration of evidence before a designation decision.

The paper also describes how HM Treasury will communicate a decision to third party suppliers and outlines the Designation Regulations process.

The paper also describes the process of de-designating a critical third party.