The Securities and Exchange Board of India (SEBI) on October 20, 2023, issued the Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Qualified RTAs (QRTAs) to provide essential facilities and perform systemically critical functions uninterruptedly in the securities market.
Based on consultation with the Technical Advisory Committee (TAC) of SEBI, it has been decided to issue guidelines for strengthening overall resiliency, the procedures at/governance of QRTAs for handling disruption, augmentation of systems and practices to achieve better Recovery Time Objective (“RTO”) and Recovery Point Objective (“RPO”), and to improve overall preparedness by conducting periodic announced/unannounced drills.
The QRTAs are required to comply with the following framework for BCP and DR:
• Organizational Resilience and Documentation
• Configuration of DRS/NS with PDC
• DR drills/Testing
• BCP –DR Policy Document
Considering the above, QRTAs are advised to submit their revised BCP–DR policy to SEBI within 3 months from the date of this circular.
[Circular No. SEBI/HO/IMD/IMD-TPD-1/P/CIR/2023/173]
