Building operational resilience consultation

December 2019

New requirements to strengthen operational resilience in financial services have been put forward in a policy summary and co-ordinated consultation papers from the Bank of England, PRA and FCA.

The proposals are expected to apply specifically to those firms most likely to have the highest impact on consumers or market integrity if their services are disrupted – including banks, building societies, designated investment firms, Solvency II insurers and SM&CR enhanced firms. The proposals build on regulatory expectations for firms to identify risks and develop communications plans.

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