UK regulators weigh rules for ‘operational resilience’
Under proposals, firms will be expected to demonstrate their preparedness for operational issues
The Bank of England and Financial Conduct Authority are proposing to tighten rules for “operational resilience” in a bid to reduce the likelihood and impact of “disruptive events”.
A set of “co-ordinated” consultation papers issued by the BoE, the Prudential Regulation Authority and the FCA on December 5 propose requiring firms and financial market infrastructures (FMIs) to demonstrate their preparedness for outages.
Firms will be expected to identify business areas that, if disrupted, could
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