From Yahoo Finance: 2025-04-02 11:19:00

UK financial firms must adopt a security-led approach to their assets, dependencies, and risks to comply with new FCA and PRA operational resilience rules for critical third parties by March 31, 2025. The FCA warns many firms fail to identify essential services or assess risks to vulnerable customers. Panaseer CEO emphasizes the need for a reliable, centralised system of record for operational resilience.

Recent disruptions at Barclays and Lloyds underscore the importance of UK financial firms ensuring operational resilience. Major banks faced over 33 days of outages in two years, hindering customer access to funds. Firms must safeguard their assets and manage risks from third-party providers to meet regulatory expectations.



Read more at Yahoo Finance: UK firms must adopt security-led approach: Panaseer CEO