SYSC 8 Outsourcing - FCA Handbook

The Financial Conduct Authority (“FCA”) is responsible for regulating the conduct of financial services firms and financial markets in the United Kingdom, in addition to being a prudential supervisor and setting standards for the firms it regulates.

The Financial Conduct Authority released the FCA Handbook, which outlines a set of rules required to be followed by banks, insurers, investment businesses and other financial services in the United Kingdom under the Financial Services and Markets Act 2000. SYSC 8 is part of the FCA Handbook which sets out the FCA’s expectations of regulated firms when outsourcing to service providers. It provides specific guidance on: monitoring, due diligence, supervision by the service provider, transition, audit, security, and business continuity.

Google Cloud’s contracts for financial institutions in the UK address the requirements in SYSC 8. We have also created mappings to the guidelines for both Google Cloud and Google Workspace to assist you with understanding how we can support you with meeting the requirements and assess us as an outsourced service provider. Google Cloud is committed to addressing these requirements regardless of how financial institutions choose to use our services.