A business continuity plan sets out how a regulated firm will maintain critical operations during and following a significant disruption, such as a systems outage, loss of key personnel, a cyberattack, or an event affecting the firm’s premises. The FCA requires regulated firms to have adequate business continuity arrangements as part of their operational resilience obligations.
We advise on the FCA’s requirements for business continuity planning, assist with drafting and structuring plans, and review existing plans against current FCA expectations. A well-drafted plan identifies critical business services, sets impact tolerances, maps dependencies, and sets out the steps needed to remain within those tolerances during a disruption.