Alert:
A nationwide postal strike or lockout may occur as early as November 3, 2004. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
Business Continuity
Section 4710 – 4714 of the IDPC Rules requires every Investment Dealer (ID) Member to establish and maintain a business continuity plan identifying the necessary procedures to be undertaken during an emergency or significant business disruption. Every ID Member must also conduct an annual review and test of its plan.
The objective is to ensure that our ID Members have made adequate preparations to deal with emergency or significant business interruption scenarios and are able to resume service within an acceptable period of time in order to facilitate prompt client access to their assets and to conduct trades.
CIRO also coordinates a biennial industry business continuity test in accordance with section 12.4.1 of National Instrument 21-101 Marketplace Operation (NI 21-101) which states: “A marketplace, recognized clearing agency, information processor, and participant dealer must participate in all industry-wide business continuity tests, as determined by a regulation services provider, regulator, or in Québec, the securities regulatory authority.”
This requirement and its implementation through CIRO’s biennial industry test reflect the fact that it is critically important for stakeholders to adequately test their plans to ensure the provision of key services and prompt client access to their assets.
Supporting Resources
For inquiries regarding the industry BCP test, contact [email protected].
For inquiries regarding general BCP matters and compliance with sections 4710 – 4714, contact your firm’s designated FinOps manager.