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<p>Responsibility for information technology infrastructure in the UK financial sector
is primarily for the firms themselves. However, the Financial Authorities have a role
to play in supervising, coordinating and driving change to improve the operational
resilience of the sector.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority
(FCA) and Prudential Regulation Authority (PRA) jointly launched, in October 2014,
a review of firms’ critical infrastructure and technology resilience. The review focuses
on the most significant UK retail deposit-taking organisations and is expected to
conclude later this summer. The results will not be published but the FCA and PRA
will provide feedback to the firms individually on their findings and any follow-up
actions.</p><p> </p><p> </p><p> </p><p>The risk of a bank experiencing severe and
prolonged technical problems affecting its core infrastructure is included as an example
of technical failure in the 2015 edition of the National Risk Register of Civil Emergencies
published by the Cabinet Office and available at: <a href="https://www.gov.uk/government/publications/national-risk-register-for-civil-emergencies-2015-edition"
target="_blank">https://www.gov.uk/government/publications/national-risk-register-for-civil-emergencies-2015-edition</a>.</p><p>
</p><p> </p><p> </p>
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