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SINGAPORE : The Singapore Exchange (SGX) wants public feedback on its new business continuity management requirements, which will be adopted and implemented by SGX member firms.
The requirements will help businesses develop a framework that will manage and mitigate operational disruptions, and ensure the immediate resumption of critical business functions.
This initiative will bolster market confidence in a firm's ability to recover from contingencies.
The planned requirements include assessments of business and operational risks, documentation of business continuity arrangements, and regular review and tests of the firm's plan.
A senior officer should be in charge of the firm's business continuity plan, while an emergency contact person must be appointed. This person must be contactable at all times by the SGX.
Market participants and members of the public are encouraged to participate in this public consultation.
The consultation paper, which sets out the proposed requirements, will be available on SGX's website from May 8-22. - CNA /ls
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