• Periodic Maintenance and Updating of a BCP

    • OM-4.8.4

      Licensees must have formal procedures to keep their BCP updated with respect to any changes to their business. In the event of a plan having been activated, a review process must be carried out once normal operations are restored to identify areas for improvement. If vendors are needed to provide vital recovery services, there must be formal processes for regular (say, annual) reviews of the appropriateness of the relevant service level agreement.

      January 2014

    • OM-4.8.5

      Individual business and support functions, with the assistance of the CMT, must review their business impact analysis and recovery strategy on an annual basis. This aims to confirm the validity of, or whether updates are needed to, the BCP requirements (including the technical specifications of equipment of the alternate sites) for the changing business and operating environment.

      January 2014

    • OM-4.8.6

      The contact information for key staff, counterparties, customers and service providers must be updated as soon as possible when notification of changes is received.

      January 2014

    • OM-4.8.7

      Significant internal changes (e.g. merger or acquisitions, business re-organisation or departure of key personnel) must be reflected in the plan immediately and reported to senior management.

      January 2014

    • OM-4.8.8

      Copies of the BCP document must be stored at locations separate from the primary site. A summary of key steps to be taken in an emergency situation must be made available to senior management and other key personnel.

      January 2014