FSA to lead detailed benchmarking project to assess the resilience of the UK financial sector The UK’s Tripartite Authorities (the FSA, Bank of England and the Treasury) is to undertake a formal, detailed ‘stocktake’ to benchmark the resiliency of the UK financial sector as a whole. Termed the Resilience Benchmarking Project, the exercise is being led by a FSA project team and supported by outside consultants PriceWaterhouse Coopers and its sub-contractor JR Consulting Partners Ltd. The objective of the Resilience Benchmarking Project is to determine the robustness of the UK financial services sector in the event of major operational disruption. In order to achieve this, the resilience level and disaster recovery capacity of major market participants and financial market infrastructure providers, both individually and collectively, will be assessed. This will include the business continuity arrangements that have been made, as well as the interdependencies between participants. Following a data collection period, the project team will present a report detailing any improvements that are needed and making proposals for how these can be achieved. The project will be rolled out to financial sector participants between June and September 2005, with the feedback report published by December. For more details see http://www.fsc.gov.uk/section.asp?catid=322&docid=848
•Date: 24th May 2005 • Region: UK • Type:
Article •Topic:
Financial sector |
