MSRB Establishes 2024 Criteria for Participation in BC/DR Testing
The MSRB established the 2024 criteria for designating participants for the next mandatory functional and performance testing of business continuity and disaster recovery ("BC/DR") plans.
In its Notice, the MSRB stated that the criteria were designed to "ensure participation by those MSRB Registrants that the MSRB reasonably determines are, taken as a whole, the minimum necessary for the maintenance of fair and orderly markets in the event of the activation of its BC/DR Plans." The testing is required under SEC Regulation Systems Compliance and Integrity ("Reg. SCI") and MSRB Rule A-18 ("Mandatory Participation in Business Continuity and Disaster Recovery Testing").
Firms designated as participants will be provided at least 45 days' notice of BC/DR plan testing.