Clarification to the Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR)
Summary
SEBI issues a circular to clarify and modify the guidelines for Business Continuity Plan and Disaster Recovery previously issued in April 2012. The modifications mandate specific technical requirements for data loss prevention and recovery time objectives for stock exchanges and depositories. These changes are enacted under Section 11(1) of the SEBI Act, 1992 to protect investor interests.
Text
Apart from DRS, stock exchanges should have a Near Site (NS) to ensure zero data loss whereas, the depositories should also ensure zero data loss by adopting a suitable mechanism
Exchanges / Depositories should have Recovery Time Objective (RTO) and Recovery Point Objective (RPO) not more than 4 hours and 30 minutes, respectively
Stock Exchanges / Depositories / Clearing Houses or Clearing Corporations of Stock Exchanges should also demonstrate their preparedness to handle any issue which may arise due to trading halts in stock exchanges and / or failure or stoppages at other Stock Exchanges / Depositories / Clearing Corporations
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market
Source: SecMarx — Clarification to the Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.