The FCA expects all firms to have business continuity arrangements and contingency plans in place to deal with major events. The FCA’s expectations for firms dealing with the impact of COVID-19 sits within this broader regulatory context. The FCA and the PRA are currently consulting on a specific operational resilience regime (see in particular, Consultation Paper CP19/32, which is now due to run until 1 October 2020). “Operational resilience” means “the ability…to prevent, adapt, respond… Continue Reading