FSA makes BCP a 2005 priority

LONDON -- The UK’s Financial Services Authority (FSA) plans to make business continuity one of the five ‘themes’ of its fiscal year 2005, which commences at the beginning of April, according to the regulator’s annual business plan. The other four themes include conflicts of interest, corporate governance, stress testing and market abuse.

"The external environment requires us to work intensively on preparing for the possibility of major disruption to the financial system, caused by either system failure or physical attack," says the business plan. "We will continue to work closely with the Bank of England, the Treasury and the major market infrastructure providers and participants to help us prepare to handle the consequences of any major disruption to the financial system." According to the regulator’s Financial Sector Outlook