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Computer Business Review: Financial Service Firms Need to Report Their Emergency Backup Plans

National Cyber Security Centre to be consulted as experts

The Bank of England and the Financial Conduct Authority have informed financial service firms that they have till the 5 of October to report on how they plan to respond to risks such as cybersecurity attacks.

In a report produced jointly by the Financial Conduct Authority (FCA) and the Bank of England (BoE), they highlight that: “A resilient financial system is one that can absorb shocks rather than contribute to them,” and that “Dealing with cyber risk is one important element of operational resilience.”

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