Report of the Task Force on Major Operational Disruption in the Financial System
3 December 2003
The Task Force was established in February 2003 following
responses to the HM Treasury Green Paper on "The Financial System
and Major Operation Disruption". The Task Force examined the
need for a legislative response to deal with the threat of major
operational disruption in the UK financial system. On 3 December
2003 the Task Force published their final report.
The Task Force found that existing contractual mechanisms and legal provisions available to market participants and infrastructures were generally sufficient to allow the financial sector to manage risks appropriately. It concluded that such mechanisms, together with co-ordinated contingency planning across the public and private sectors were best suited to the particularly international and interconnected nature of the UK's financial markets. However, the Task Force also put forward eight recommendations to further improve the UK's preparedness for dealing with major operational disruption in the financial system.
Do
We Need New Statutory Powers? 
(1mb)
Report of the Task Force on Major Operational Disruption
in the Financial System.
Full Report
For ease of downloading the report is split into smaller sections, which can be accessed by the links below:
- Foreword
and Executive Summary
(179k)
- Main
Report
(316k)
- Terms
of Reference & Background on the Study
(215k)
- Summary
of Existing Business Continuity Planning Work
(172k)
- Report
of the Contracts Working Group
(363k)
- Report
of the Infrastructures Working Group
(290k)
- Report
of the Regulatory and Statutory
Powers Working Group
(398k)
Key Resources
 |
Task Force Publishes
Report on Whether New Statutory Powers are Needed to Deal
with Major Operational Disruption News Release 3 December 2003 View |
