Banks and financial services companies are planning an exercise in November to test how they would respond to a major security incident in London. The exercise, which follows a smaller test at the end of last year, will assess the ability of City firms to continue functioning following a major emergency. The test is being co-ordinated by the Bank of England, the Financial Services Authority and the Treasury as part of a three-way programme to ensure the resilience of the financial sector. It is likely to be followed by a simulation of a terrorist attack on both sides of the Atlantic, in a collaboration between the UK, Canadian and US governments. Full Story