Regulatory Notice 15-43

FINRA Files Rule with SEC for Authority to Designate Firms for Mandatory Participation in FINRA’s Business Continuity/Disaster Recovery Testing, As Required by Regulation SCI

Effective Date: November 3, 2015

Executive Summary

As required by Regulation Systems Compliance and Integrity (Regulation SCI), FINRA has adopted new Rule 4380 related to mandatory member firm participation in business continuity and disaster recovery (BC/DR) testing. The new rule authorizes FINRA to designate firms that must participate in FINRA’s BC/DR testing under Regulation SCI, which will be conducted once per year. Under Rule 4380, FINRA will designate member firms for mandatory BC/DR testing participation based on established standards, which this Notice describes in detail.

Questions regarding this Notice should be directed to:

  • Chris Stone, Vice President, Transparency Services (TS), at (202) 728-8457; or
  • Ola Persson, Vice President, TS, at (212) 858-4796; or
  • Jon Kroeper, Senior Vice President, Quality of Markets, at (240) 386-5952; or
  • Alex Ellenberg, Assistant General Counsel, Office of General Counsel, at (202) 728-8152.