More details released on UK financial sector market-wide exercise

The UK Tripartite Authorities' will conduct their annual financial sector resilience exercise on Monday 28th November. The aim is ‘to practice co-ordination between key participants in the financial sector of responses to sector-wide disruption, enhance market understanding of and confidence in the role of the financial authorities in the event of a major operational disruption and to identify areas for improvement in existing procedures’.

It is claimed by the Tripartite Authorities that this year's exercise will be the largest business continuity exercise of its type ever undertaken. It will involve ‘some 80 firms across the UK, together with the Bank of England, HM Treasury, the Financial Services Authority and consultants, KPMG and Crisis Solutions, who are planning the scenario that will form the basis of the exercise. Bodies such as the City of London Police, City of London Corporation, Canary Wharf Management and the London resilience Team are also directly involved in scenario design’.

Following feedback from those who took part in last year' exercise, this year's scenario will be more complex, and will include ‘media and international dimensions, civil contingencies and business continuity issues’. Another change from last year is that the 2005 exercise will include groups of firms operating from regional centres.

•Date: 20th Oct 2005 • Region: UK • Type: Article •Topic: Financial sector
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