
UK government passes civil contingencies bill
BUSINESS CONTINUITY
The legislation and accompanying non-statutory measures will deliver a single framework for civil protection in the UK, according to the government. In theory, the new powers should improve the UK's ability to deal with the consequences of major disruptive incidents by improving the planning process at a local level, building better contacts between agencies and improving the link between local areas and central government. A consultation on the underpinning Regulations and Guidance package is expected to begin shortly.
Business continuity experts say the new law should bring more BCP planning to regions outside London, where much of the higher-profile activity has been taking place since the September 11, 2001 terrorist attacks in New York City and Washington DC, in the US.
The Civil Contingencies Act also 'modernises' the legislative tools available to government to provide an effective response to the most serious emergencies, according to a Home Office statement. This portion of the legislation was more controversial, with many members of parliament objecting that the powers given to government were too wide-ranging at first -- the legislation was modified.
Originally, the government consulted with the financial services industry about the need for special powers in the event of an emergency, but the conclusions of the study were that such powers were not required. As a result, the act focuses most of its emergency powers text on the robustness of the utility and transport sectors. OpRisk
The Civil Contingencies Act, and a short guide to the legislation, is available at: http://www.ukresilience.info/ccact/index.htmfcrime_sector.pdf
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Technology
Risk applications and the cloud: driving better value and performance from key risk management architecture
Today's financial services organisations are increasingly looking to move their financial risk management applications to the cloud. But, according to a recent survey by Risk.net and SS&C Algorithmics, many risk professionals believe there is room for…
Machine learning models: the validation challenge
Machine learning models are seeing increasing demand across the capital markets spectrum. But how can firms improve their chances of gaining internal and regulatory approval for these type of models?
Banks strive for machine learning at quantum speed
Embryonic work on quantum neural networks raises hope of faster, more accurate models
Big banks seek solace in quantum-proof encryption
Barclays, JP Morgan and SocGen act to counter threat from next generation of computing
Facing the future: the growth of automation in Asia‑Pacific fixed income trading
How can automation improve fixed income trading strategies and best execution? In a recent Asia Risk webinar, in partnership with Tradeweb, a panel of market experts discussed the outlook for automation in the trading space
Moonshots and machines: can AI solve the problems of fincrime?
New technologies such as artificial intelligence (AI) and machine learning promise much in the battle against financial crime, but where are these solutions best deployed? A panel of anti-money laundering and analytics professionals convened for a Risk…
Next-generation technologies and the future of trading
At a Risk.net webinar in association with capital markets technology provider Numerix, panellists discuss the potential for increased adoption of the public cloud to boost investment performance, its impact on risk management and overcoming barriers to…