UK regulators weigh rules for ‘operational resilience’
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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