5.9 Business contingency and continuity planning

Competent authorities should assess whether the investment firm has established an effective business continuity management to ensure its ability to operate on an ongoing basis and to limit losses in the event of severe business disruption.

Competent authorities should assess whether an investment firm:

• a. has put in place and tested contingency and business continuity plans to ensure that the investment firm reacts appropriately to emergencies and is able to maintain its critical business activities and functions if there is disruption to its ordinary business procedures;
• b. has adequately documented and implemented its contingency and business continuity plans.