“Regulated firms continue to face challenges from the pace of technological change […] This places strains upon existing, legacy IT environments which were designed to meet very different needs.”
“We work with firms so that IT failures do not have a negative impact on customers or the integrity of the market. Where significant failures occur, we assess firms’ ability to:
• restore services reasonably and quickly
• have a clear understanding of the root cause
• communicate to customers and the market clearly and promptly
• take action to limit the risk of similar events happening in the future
• compensate consumers, if appropriate”
