Notice - Consultation Paper: Operational Resilience Code and Guidance (2025-01-14)

Summary

This is a BMA notice announcing a consultation paper on a proposed Operational Resilience Code and Guidance. The Authority is proposing a new operational resilience framework intended to be integrated into the daily operations and risk management systems of BMA-supervised entities, scaled proportionately to each entity's nature, size, and complexity.

• Purpose: To strengthen the financial sector's ability to anticipate, adapt to, manage, recover from, and learn from operational disruptions, whether arising internally or from third-party service providers.
• Goal: Ensure critical customer-facing services remain uninterrupted, supporting business continuity and resilience.
• Consultation: Stakeholders are invited to comment on the proposals in the consultation paper by emailing policy@bma.bm.

No binding rules are created by this notice itself; it is a call for industry feedback ahead of finalising the Operational Resilience Code and Guidance.

Key obligations

• Stakeholders wishing to respond must submit comments on the consultation paper to policy@bma.bm no later than Friday, 14 March 2025.

Applies to

BMA-supervised entities

Deadlines

• Friday, 14 March 2025: Deadline for stakeholders to submit comments on the Operational Resilience Code and Guidance consultation paper to policy@bma.bm.