The FSA has released the finalized version of the Discussion Paper on Ensuring Operational Resilience (only available in Japanese) after conducting public consultation in December 2022 (see eventid=19163).
The purpose of the paper is to provide financial institutions with a framework to ensure operational resilience amidst the rapidly changing environment surrounding financial institutions.
The paper outlines a comprehensive approach to ensure operational resilience in financial institutions, encouraging dialogue between FSA and industry players to improve and implement better industry practices. It is expected that financial institutions will work with the FSA to implement these better practices and theregby ensuring operational resilience, which will ultimately benefit the financial industry as a whole.
The finalized discussion paper took effect on 27 April 2023, providing financial institutions with a clear understanding of what is required of them.
Other Features
best practice
due diligence
financial stability
operational
process
resilience
standard
transparency
Date Published: 2023-04-27
Date Taking Effect: 2023-04-27
Regulatory Framework: not applicable
Regulatory Type: procedure
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