Last week the Financial Conduct Authority, Prudential Regulation Authority (“PRA“) and Bank of England published a joint policy statement on operational resilience in relation to the impact tolerance of important business services in the financial sector (the “Statement”). The new rules aim to help firms prevent, adapt, respond to, recover and learn
Chris Chapman
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UK Digital Regulation Cooperation Forum Sets Out its Agenda for 2021/22
By Ondrej Hajda, Oliver Yaros & Chris Chapman on
The UK Digital Regulation Cooperation Forum (DRCF) – an initiative between the Competition and Markets Authority (CMA), the Information Commissioner’s Office (ICO), Ofcom and, from 1 April 2021, the Financial Conduct Authority (FCA) – has published its Work Plan for 2021 to 2022.
The Work Plan sets out how the four regulators propose to cooperate…
European Commission proposes new regulation of digital operational resilience in the financial sector
On 24 September 2020, the European Commission published a proposal for a new regulation – the Digital Operational Resilience Act (“DORA”) – and an accompanying directive to harmonise digital operational resilience rules for financial organisations in the EU.
Digital operational resilience
Digital operational resilience is the ability to build, assure and review the…