UK regulators plan second BCP test
LONDON – The UK’s financial services regulators are planning to conduct a second market-wide test of business continuity procedures on November 22, according to John Milne, head of business continuity planning in the major financial groups division of the Financial Services Authority. Milne, speaking at a London BCP event in late September, also indicated that the event would become annual. The last such market-wide event was completed some 19 months earlier, in June 2003.
The market-wide test is only the latest of several initiatives by a re-invigorated BCP alliance between the FSA, the UK Treasury and the Bank of England, called the Tripartite Committee. The market-wide test will make use of the new teleconference facility the regulators have put in place to communicate with market participants in the event of a wide-scale disruption. The triumvirate has conducted several test runs with the new teleconferencing system – one teleconference included more than 76
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