Agenda item

Markets Committee Risk Update - November 2021

Report of the Markets Director.


The Committee considered a report of the Director of Markets providing provide assurances that satisfactory risk management procedures are in place within the Markets Division to meet the requirements of the corporate Risk Management Framework.

In presenting the report, Officers advised that the report would be prepared in a new format from April 2022.


Members had mixed views on the new report format.  Some Members were concerned that the new format would make it easier for issue to fall under the radar and on the other hand some Member felt that ”by exception” reporting on risks made the best use of the Committee’s time.


In response to questions and observations from Members, Officers reported that the risk in respect of the glass canopy at Smithfield Market was ranked green because of mitigation measures in place.  An audit of transport at Smithfield Market had taken place recently


A Member suggested that the maintenance related risks should be reviewed to achieve the right balance in respect of necessary repairs versus value for money taking into account the Markets Co-location Programme.




  1. That the report and the actions taken in the Markets Division to monitor, and manage effectively, risks arising from its operations be noted.


  1. That it be noted that going forward, only red risks or risks which had altered significantly would be reported.


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