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FSA Guidelines on Business Continuity

01.03.2007

The Financial Supervision Authority has issued guidelines to entities subject to financial supervision for organising business continuity, effective from 1 March 2007.

The guidelines set forth rules and processes that supervised entities should implement in their activities in order to restore their activities in the case of extraordinary disruptions (e.g. loss of staff, malfunctioning of IT-systems, environmental disaster). The guidelines set forth minimum-standard recommendations and require to use “comply or explain” principle when implementing the standards. The “High-level principles for business continuity” issued by the Joint Forum in August 2006 were used for developing the recommendations contained in the FSA guidelines.

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