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Business Continuity

October 7, 2013 - All the major UK banks are set to take part in a large business continuity cyber-threat exercise next month. Called Operation Waking Shark 2, it is being implemented by a consultancy under the aegis of the Financial Conduct Authority (FCA), Bank of England (BoE) and UK Treasury, with the intention of testing UK FI sector's ability to survive a sustained online assault from cyber-criminals.

August 27, 2013 - The Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) today issued a Risk Alert on business continuity and disaster recovery planning for investment advisers.

December 5, 2012 - European banks should not delay the implementation of Basel III purely on the basis that their counterparts in the US are doing so.

October 13, 2011 - The Securities and Exchange Commission today sanctioned two electronic stock exchanges and a broker-dealer owned by Direct Edge Holdings LLC for violations of U.S. securities laws arising out of weak internal controls that resulted in millions of dollars in trading losses and a systems outage.

August 16, 2013 - The Securities and Exchange Commission today joined the Commodity Futures Trading Commission (CFTC)'s Division of Swap Dealer and Intermediary Oversight and the Financial Industry Regulatory Authority (FINRA) in issuing a staff advisory on business continuity and disaster recovery planning.

November 1, 2012 - As trading resumed in New York after a two-day Hurricane Sandy-inflicted pause, the effectiveness of Wall Street's back-up plans to deal with disasters was being called into question.

October 12, 2011 - American Banker and Bank Technology News, SourceMedia’s leading publications for banking and financial services professionals, and IDC Financial Insights, a leading provider of independent research and advisory services focusing on the business, technology and operational issues in financial services, today released the 2011 FinTech Top 25 Enterprise technology vendor rankings. This year marks the eighth year of the annual rankings.

January 11, 2013 - A senior Lloyds executive is suing the British bank for £1 million in lost earnings, alleging that he was forced out of his crisis management post after blowing the whistle on "startling" failures in IT disaster recovery systems.

November 24, 2011 - Around a quarter of European financial sector companies saw their revenue hit and product development delayed thanks to data loss and systems downtime last year, according to a survey for EMC.

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