CTRL 3.1.17 Specific obligations — business resilience and continuity plan

(1) An authorised firm’s governing body must establish a business resilience and continuity plan to ensure, so far as practicable, that the firm can continue to fulfil its obligations under the law applicable in the QFC in the event of an interruption.
(2) The body must keep the plan under review and must ensure that it is tested at intervals determined by the body.
(3) The interval between tests must be appropriate to the nature, scale and complexity of the firm’s business but must not be longer than 18 months.
(4) The Regulatory Authority may direct the firm to test the plan at any time in a way that the Authority considers appropriate.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)