Operational resilience

This Overview provides a guide to the Lexis+® UK Financial Services content within the Operational resilience subtopic with links to the appropriate materials.

What is operational resilience?

Operational resilience is the ability of firms and the financial sector as a whole to prevent, adapt, respond to,

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Latest Financial Services News

HMT publishes information about the work of the Financial Inclusion Committee, including Terms of Reference

HM Treasury (HMT) has published Policy paper – Financial Inclusion Committee: terms of reference. The Policy paper sets out the mission of the Committee which is to tackle barriers to individual and household’s ability to access affordable and appropriate financial products and services. The Committee’s objectives are to develop, coordinate and implement interventions to support financial inclusion in the UK, and advise the UK government on the development of its financial inclusion strategy. The Committee will be chaired by the Economic Secretary to the Treasury.

Car-finance saga creates ‘investability problem,’ Lloyds boss warns

The chief executive of Lloyds Banking Group said today that the current uncertainty in Britain's car-finance sector is creating an ‘investability problem’. Lloyds is the biggest provider of car finance in the UK.

IAIS adopts global insurance capital standard

The International Association of Insurance Supervisors (IAIS) has adopted the Insurance Capital Standard (ICS), a detailed global capital framework for internationally active insurance groups (IAIGs). It will serve as a group-wide prescribed capital requirement, which is a solvency control level below which supervisors will intervene on group capital adequacy grounds. The IAIS has also finalised a targeted update of its Insurance Core Principles (ICPs) and certain related standards in its Common Framework for the supervision of internationally active insurance groups (ComFrame).

OFSI revokes general licences enabling payments to regulatory authorities

The Office of Financial Sanctions Implementation (OFSI) has published a list of general licences that it has revoked for allowing payments to regulatory bodies. These general licences include NT/2024/4836676; INT/2023/3626884, INT/2023/3781228 and INT/2024/4881897.

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