FINRA Consolidates Criteria for Participation in BC/DR Testing

FINRA consolidated criteria for designation of participants in FINRA's Business Continuity/Disaster Recovery Testing ("BC/DR Testing") under Regulation Systems Compliance and Integrity (Regulation SCI). FINRA Rule 4380 authorizes FINRA to designate firms that must participate in annual BC/DR Testing based on standards, which FINRA provided in two previous Regulatory Notices (see here and here). FINRA made no substantive changes.

FINRA stated that it will notify firms that meet such criteria in April of each year.