| US regulators issue definitive guidance on business continuity for financial sector Final version of ‘Sound practices to strengthen the resilience of the US financial system’ published. The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission have issued the final version of ‘Sound practices to strengthen the resilience of the US financial system’. This is an updated version of a draft paper that was issued in September 2002 for consultation. The agencies have incorporated many of the suggestions that were made and the final paper, which applies most directly to the clearing and settlement activities of a limited number of financial institutions, provides more flexibility to firms in managing geographic dispersion of backup facilities and staffing arrangements than was in the much more prescriptive draft version. The final paper also takes into account other considerations relevant to cost-effective implementation of sound business continuity practices. To read the full paper click
here (pdf)
•Date:
9th April 2003 •Region: North America •Type:
Article •Topic: BC
general |
