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FCA paves way for cloud computing in UK financial services

Anonymous Coward
Anonymous Coward

I don't actually see why these demands are directed at the service providers.

Surely it is up to the FCA regulated entities to ensure they have contracts in place that ensure they can comply with FCA demands? If they have contracts that do not facilitate access to the records the FCA deems to need, THEY are culpable, not the service provider.

I cannot see any service provider agree to an open door policy for the FCA, physical or electronic, because that would make them liable for all sorts of trouble with other customers and it could even be illegal in the operating nation.

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