Global regulators tighten rules on banks outsourcing services

Board directors of banks must take ultimate responsibility for outsourced services and document how they manage the risk of outages and disruptions to customer services, the global Basel Committee of banking regulators proposed on Tuesday. Banks increasingly use third-party tech companies, such as Microsoft (MSFT.O), Amazon (AMZN.O), and Google (GOOGL.O), for cloud computing to run [...]

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