Our Operational Resilience team is undertaking a significant survey looking at the operational resilience of licensed market service providers.
Acting team manager Jocelyn McKernan explains, “One of the priorities, outlined in our Financial Conduct Report for 2025/26, is to deepen our understanding of operational resilience practices across licensed market service providers, including related risks and harms.
“To support that, we are asking firms a series of questions on their governance, outsourcing arrangements, incident management, business continuity plans, technology systems, information security, and mandatory notification practices.
“Operational resilience is essential to the stability and continuity of financial services. Licensed market service providers are expected to maintain robust systems, controls and governance arrangements that support operational resilience. We expect the findings to better inform our regulation of operational resilience.”
The Operational Resilience team is surveying seven sectors, five this financial year – peer-to-peer lending and crowdfunding, derivatives issuers, discretionary investment management services, and insurers, and two in the 2026/2027 financial year – financial advice providers and managed investment schemes.
“We will publish a thematic review report to comprehensively cover our insights from the sector surveys,” says Jocelyn. “But we will also be releasing updates along the way to provide timely key insights to industry.”
Peer to Peer Lending and Crowdfunding have completed their surveys and we sent surveys to Derivatives Issuers earlier this month. We will send surveys to Discretionary Investment Management Services and Insurance in the New Year.
