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<p>The failure of IT infrastructure at Royal Bank of Scotland, or any other bank on
which customers rely to manage their money, is completely unacceptable. Responsibility
for infrastructure in the UK financial sector is primarily for the firms themselves.
However, financial regulators 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 The results will not
be published, but the FCA and PRA will provide feedback to the firms individually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 agree any follow-up actions.</p><p> </p>
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