Regulatory Alerts2018-07-04
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Building operational resilience: Feedback to CP19/32 and final rules
The Financial Conduct Authority establishes final rules requiring banks, insurers, investment firms, and other regulated entities to identify important business services and set impact tolerances for them. These rules mandate that firms map the people, processes, technology, and information supporting these services and conduct scenario testing to ensure resilience against operational disruptions. The final rules come into force on 31 March 2022, with a three-year transitional period ending on 31 March 2025, by which time firms must be able to operate within their impact tolerances.
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