The Securities Commission Malaysia (SCM) on 14 May issued the Guiding Principles on Business Continuity (Principles) for capital market entities as part of its efforts to enhance the systemic resilience of the capital market.
The principles set out the SCM’s expectations of the business continuity management approach of capital market entities to ensure the provision of timely and consistent services.
The principles focus on six key areas: (1) board and senior management’s responsibility in ensuring sound and effective business continuity protocols; (2) the importance of risk identification, in particular interdependency and concentration risks; (3) risk-based recovery strategy; (4) annual testing of business continuity protocols; (5) comprehensive escalation procedures and communication plans in the event of major disruptions and (6) ongoing review of business continuity arrangements. The complete principles are available on the SCM’s website.
