Report: UK Regulators Urged to Hold Firms and Individuals Accountable for “Unacceptable” Number of IT Failures

The U.K. government’s Treasury Select Committee is raising the stakes on accountability for IT failures within the financial services industry, describing the current level and frequency of operational disruption and consumer harm as “unacceptable” in a report published on October 28, 2019.

This article explains what this strong demand for accountability means for the financial services industry and provides a list of questions that can be used to stimulate a discussion on operational resilience at the board level and among the senior management team.