CLLS response - PRA - FCA CPs on Incident and third party arrangements - 18 03 25

The CLLS Regulatory Committee responded to PRA (CP17/24) and FCA (CP24/28) consultations on operational incident and third party management reporting.   They recognised that proportionality and adequate time for implementation would be important and called for clarity and consistency between the new and existing requirements and definitions, given multiplicity of requirements possibly giving rise to uncertainty and/or unnecessary additional compliance.