MSRB Reminds Registrants of Mandatory Testing under Regulation SCI

The MSRB reminded its registrants that, pursuant to the Regulation Systems Compliance and Integrity ("Regulation SCI"), certain MSRB-member firms, including broker-dealers and municipal advisors, must participate in the MSRB's business continuity and disaster recovery plans. In Regulatory Notice (2016-04), the MSRB described the manner in which the MSRB will designate specific firms that are required to participate in testing under Regulation SCI. In addition, the MSRB said that it would notify all required participants individually at least forty-five calendar days prior to functional and performance testing.