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CFTC Rule 23.603

Requires the establishment and maintenance of a written business continuity and disaster recovery plan outlining the procedures to be followed in the event of an emergency or disruption to normal business activities.

Rule Overview

Jurisdiction: United States

Regulator: CFTC

Topic: Business Continuity

Overview
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The essential components of a plan are:

  1. identification of documents, data, facilities, infrastructure, personnel and competencies essential to continued operations and fulfilment of obligations
  2. identification of the supervisory personnel repsponsible for each aspect of its implementation and emergency contacts required
  3. a plan to communicate with the following persons in the even of an emergency or disruption:
    1. employees
    2. counterparties
    3. swap data repositories
    4. execution facilities
    5. trading facilities
    6. regulatory authorities
    7. data, communications and infrastructure providers and other vendors
    8. disaster recovery specialists
    9. other persons essential to:
      1. the recovery of documentation and data
      2. the resumption of operations
      3. compliance with the CEA and Commission regulations
CFTC Rule 23.603(b)
Essential components
CFTC Rule 23.603(c)
Distribution to employees
CFTC Rule 23.603(d)
Commission notification
CFTC Rule 23.603(e)
Emergency contacts
CFTC Rule 23.603(f)
Review and modification
CFTC Rule 23.603(g)
Testing and audit
CFTC Rule 23.603(h)
Plans required by other regulators
CFTC Rule 23.603(i)
Recordkeeping
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