CIRO MFDA Notice MSN-0056
BCP procedures should:
- define triggers for invoking BCP arrangements;
- identify critical operations and services that need to be maintained;
- define management and staff responsibilities;
- outline procedure to be followed to maintain core business functions;
- outline procedures to resume services within acceptable time frames;
- allocate adequate resources for business continuity;
- institute back-up systems for the protection and recovery of data and client records;
- outline procedures to be followed to communicate information to all relevant parties; and
- provide information about the business continuity arrangements of service providers.
This last point is important because the members are explicitly responsible for ensuring that core third party suppliers have adequate business continuity plans in place.
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