The Bank of England and the Financial Conduct Authority have given financial firms three months to provide plans for how they would respond if a system failed. While this seems like common sense to me I’m wondering if there might be more to this than meets the eye. Could it be that intel agencies are expecting cyber-attacks or worse in the near future? Is this just a reaction to past events and a reasonable precaution? I guess the answer depends on how tight the tin-foil hat is on your head.



“Operational disruption can impact financial stability, threaten the viability of individual firms and financial market infrastructures, or cause harm to consumers,” said FCA chief executive Andrew Bailey and the Bank of England’s Jon Cunliffe, in a statement.

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Source: [H]ardOCP – Banks Told to Reveal Tech Meltdown Plans