Industry should work together on operational resilience – BoE

Regulator to “shortly” issue report highlighting opportunities for op risk collaboration

Lyndon Nelson
PRA’s Lyndon Nelson: “[Industry needs to develop] ideas on how to protect systems and data more robustly”
Photo: Bank of England/Flickr

The Bank of England (BoE) is set to release a report highlighting the importance of collaboration among financial firms in the face of evolving threats to their financial resilience – from cyber attacks to the failure of critical infrastructure providers.

Speaking at an industry event earlier this week, Prudential Regulation Authority deputy CEO Lyndon Nelson said the report, which is to be published “shortly”, will examine risks that “are unmanageable by firms individually” and that “lend

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