Author: Worksmart – worksmart.co.uk
In December 2019, the FCA issued its Consultation Paper (CP19/32) on Operational Resilience. The CP laid out the FCA’s intentions clearly, building on the existing requirements to manage operational risk and business continuity planning with the aim to further strengthen operational resilience. Although CV19 has delayed the closing date for feedback to the CP until the 1st October 2020 with the final rules not expected until 2021, the message from the regulator is clear. To reinforce the point, Operational Resilience was one of the six ‘cross-cutting’ priorities in the FCA’s 2020-21 Business Plan.
By Julie Pardy, Director of Regulation & Market Engagement, Worksmart Limited