In December 2024, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) jointly developed proposals (FCA CP24/28 and PRA CP17/24) on Operational Incidents and Third Party Reporting to bolster the operational resilience of the UK's financial system, see our article on that here. On 18 March 2026, the FCA published its Policy Statement (PS26/2), introducing the final rules. The rules will come into force on 18 March 2027.
Our client note provides a comprehensive analysis of the new framework, including the scope of firms affected, the important changes the FCA has made following the consultation, and the practical next steps firms should be taking now to prepare for implementation.
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