The financial system and major operational disruption.

0 Comments | M2 Presswire, December, 2003

M2 PRESSWIRE-3 December 2003-UK Government: The financial system and major operational disruption(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:12032003 The Task Force considering major operational disruption in the financial system has concluded that no new legislation is needed to cater for disruption in the financial sector.

The Task Force chaired by Sir Andrew Large, Deputy Governor of the Bank of England, today announced a number of recommendations for further improvements to preparations in other areas such as private contracts and the rules of market infrastructures, such as clearing-houses and stock exchanges, while also recommending further contingency planning work by the financial authorities (the Treasury, Bank of England and Financial Services...

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