Major tech changes more likely to cause incidents - FCA

Sophie King
clock • 3 min read

Major technology changes lead to more incidents than lesser ones within financial services firms, research by the Financial Conduct Authority (FCA) has found, and the regulator said while effective risk management is an important component to success.

In a report published on Friday (5 February), the watchdog set out findings from its cross-financial services change management review, which analysed more than one million production changes implemented in 2019 by a sample of financial services companies. Each firm deployed an average of 35,000 production changes that year, which the FCA said represents significant activity highlighting the complexity of translating business into technology change. The report examined how financial firms manage technology change, the impact of change failures and the practices used in the industry to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: The advice profession is getting bigger, but is it getting better?

News editor's view: The advice profession is getting bigger, but is it getting better?

The news editor's Friday Night Takeaway from 11 September

Isabel Baxter
clock 11 September 2026 • 3 min read
Feel Good Friday: Rosemount renews mental health partnership for advisers

Feel Good Friday: Rosemount renews mental health partnership for advisers

Supporting The Global Returns Project, Grief Encounter, FoodCycle and Verve Foundation

Professional Adviser
clock 11 September 2026 • 1 min read
Is compliance the hidden driver of business value and saleability?

Is compliance the hidden driver of business value and saleability?

'The reality is simple - buyers will pay more for certainty'

Paul Bruns
clock 09 September 2026 • 7 min read