The UK's finance sector exercised its cybersecurity efforts on Tuesday, November 12th, 2013.  It started with announcements and bulletins simulating a large scale cyber attack. The efforts were sponsored and conducted by the Bank of England.  Prompting the necessity of this exercise is the upcoming Bank of England's Financial Policy Committee meeting which is anticipating action plans from financial regulators.

The first Operation Waking Shark was on March 11th, 2011 where Credit Suisse conducted a small scale test of its cyber resiliency.  That initial test revealed the relevance for operational readiness across IT departments in the financial sector.  This second exercise will test a sustained attack on the financial sectors' IT capabilities.