Agenda item

Risks

The Chairman advised that he and the Deputy Chairman had recently attended one of the Audit and Risk Management Committee’s challenge sessions, which had focused on the markets. He advised that two red risks had been identified and, as a result of discussions, had agreed with the Director of Markets and Consumer Protection that the Committee should receive a short report at each meeting identifying red risks and any adverse risk movement over the last period.

The Director advised that one of the red risks identified concerned the 200 forklift trucks operating at the Spitalfields market site, with the specific concern being the City’s responsibility when these vehicles were driven on common land and highways for which it held responsibility. The accident rate at this site had increased in the last year, but had stabilised recently and a plan had been put in place to mitigate risks. The second red risk concerned large vehicles on the Smithfield Market site and their backing onto the terminals to offload produce, with there being some concern that the bank men who supervised this activity were not being fully provided with the training and supervision necessary. The Superintendent was meeting with the tenants’ association to address this issue and mitigate the risk.