this post was submitted on 11 Jul 2026
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Bank of England handed powers to regulate key tech firms including Amazon and Google (www.gov.uk)
submitted 16 hours ago by beep@piefed.world to c/technology@lemmy.world
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cross-posted from: https://piefed.world/c/tech/p/1255260/bank-of-england-handed-powers-to-regulate-key-tech-firms-including-amazon-and-google

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[โ€“] BigTwerp@feddit.uk 1 points 10 hours ago* (last edited 10 hours ago) (1 children)

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.

[โ€“] TheJesusaurus@piefed.ca 1 points 10 hours 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