IIROC to hold business continuity planning test in October

The Investment Industry Regulatory Organization of Canada (IIROC) is planning an industry-wide disaster recovery test for next fall, the self-regulatory organization announced Tuesday.

IIROC is organizing the industry’s next comprehensive business continuity planning (BCP) test for Oct. 26, 2019. The Canadian test is being held at the same time as a planned BCP test in the United States to “facilitate the participation of organizations who have operations in both the Canadian and American markets,” IIROC says in a notice.

The 2019 test will be mandatory for certain dealers, markets and clearing firms.

IIROC will contact dealers that are required to participate in early January 2019 to confirm their participation, and will form a working group in early 2019 to oversee test preparations.

Dealers that aren’t required to take part in the test will be able to participate on a voluntary basis, IIROC says.

“The test scenario for the 2019 BCP test is for IIROC dealer member participants to test out of their production/primary data processing sites while the service provider participants will be testing out of their disaster recovery data processing sites,” IIROC says.

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