OM-5.1.2
According to the Joint Forum, in its paper, Business Continuity is "a whole of business approach for insuring that specified operations can be maintained or recovered in a timely fashion in the event of disruption. Its purpose is to minimize the operational, financial, legal, reputational, and other material consequences arising from a disruption". The objectives of a good business continuity plan ("BCP") are:
(a) To minimise financial loss to the licensee;
(b) To continue to serve customers and counterparties in the financial markets; and
(c) To mitigate the negative effects that disruptions can have on a licensee's reputation, operations, liquidity, credit quality, its market position, and its ability to remain in compliance with applicable laws and regulations.
October 07