ARTICLE
22 January 2021

MSRB Provides Criteria For Mandatory Participation In Business Continuity And Disaster Recovery Testing

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
In an annual notice, the MSRB provided criteria for designating participants in the next required testing of the MSRB's business continuity / disaster recovery (or "BC/DR") plans.
United States Finance and Banking

In an annual notice, the MSRB provided criteria for designating participants in the next required testing of the MSRB's business continuity / disaster recovery (or "BC/DR") plans. MSRB stated that the "criteria are designed to ensure participation by those MSRB Registrants that the MSRB reasonably determines are, taken as a whole, the minimum necessary for the maintenance of fair and orderly markets in the event of the activation of its BC/DR Plans." The MSRB stated that the designated participants will be firms that account for the most activity in specific transaction or market segments and that the agency will notify designated participants that are obligated to take part in the testing.

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