Operational Resilience Update - Important Business Services

Under Operational Resilience, firms must identify their important business services and review them regularly. Remember that these are services which, if disrupted, could potentially cause intolerable harm to the consumers of the firm’s services or risk to market integrity.

As an asset manager, what are the important business services that you have identified for your clients/consumers?

Consider all factors outlined in the FCA’s Handbook and avoid excluding services based on a single factor. Important business services should be identified independently of response or recovery capabilities. Each justification for identifying these services should be documented in a firm’s self-assessment and include rationale for not identifying or removing other services during the annual review process.