Managing major operational disruption in the City of London
Tuesday 9th December 2003
A recent review on the City of London's preparedness for major operational disruption was published this week, following review by a group under the Chairmanship of Andrew Large, the Deputy Governor of the Bank of England. While there is a need for the City of London to invigorate its preparations, the review rejected the proposal from the Chancellor of the Exchequer that Emergency Statutory Powers should be granted to the UK Treasury to take control of Financial Markets in the event of major operational disruption.
This review, supplemented by a briefing organised last week by CityCompass on "Business Continuity, the Big Issue ? " provides an insight into the progress and refinement of thinking, plans and actions in the area of business continuity within the City of London by financial institutions, financial services regulators and those, who provide technology and communications services to enable business continuity.