Regulators set out draft operational resilience rules

By Neasa MacErlean

New rules are to be finalised in H2 of 2020 which will set out the numerous steps that firms and financial market infrastructures will have to take to build operational resilience. Citing incidents in the payments sector where consumers have lost access to their money, the Financial Conduct Authority has published a consultation paper and is coordinating with the Bank of England and Prudential Regulation Authority to develop “new rules (for the FCA and PRA), principles, expectations and guidance”.