Effective March 31, 2022, entities such as UK Electronic Money License holders, Small Electronic Money Institutions, UK Payment Institutions, Small Payment Institutions, Payment Initiation Service Providers (PISPs), Account Information Service Providers (AISPs), banks, investment entities, insurers, and building societies find themselves within the purview of the Financial Conduct Authority's (FCA) Operational Resilience Framework, encapsulated in the newly penned SYSC 15.A chapter.

Prior to this date, it was incumbent upon these organisations to establish, for critical business services, their acceptable levels of impact tolerance—designed to withstand operational disruptions—outlined in Step 3. A grace period of three years is granted to ensure adherence to these tolerance thresholds. New applicants post this timeline are mandated to present a comprehensive FCA Operational Resilience Framework Assessment as part of their authorisation process, with a deadline set at March 31, 2025, to confirm their ongoing compliance.

This guide serves a dual purpose: to facilitate your compliance journey and to empower your organization with the tools to not just survive but thrive amid operational upheavals. It delineates the FCA's operational resilience mandate into seven manageable steps, aiming to scaffold the development of a robust compliance framework and facilitate thorough resilience evaluations.

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