FCA Handbook

A firm must identify its important business services by considering whether their disruption could cause intolerable harm to consumers or risk to market integrity.

Run an annual board-approved IBS identification exercise with consumer-harm modelling.

A firm must carry out scenario testing to assess its ability to remain within its impact tolerances for each important business service in severe but plausible disruption.

Run severe-but-plausible scenario exercises across the IBS portfolio at least semi-annually.

A firm must act to deliver good outcomes for retail customers.

Embed the Consumer Duty across products, price/value, consumer understanding, and support.

A firm must notify the FCA immediately of any matter that could have a significant adverse impact on the firm or its customers.

Maintain a notification trigger and route for significant events, with clear ownership.