On 5 October 2020, FIA, joined AFMA, ASIFMA, IBA and ISDA, to submit a letter to the financial regulators in Australia, Hong Kong, Japan, and Singapore to request for reciprocal Business Continuity Plan (BCP) arrangements between jurisdictions.
Specifically, the letter proposes that there be mutual back-up/BCP waivers between these jurisdictions, with pre-agreed regulatory approval applicable to banking, securities, and futures businesses respectively.
Since submitting the letter, FIA and the other trade associations have been engaging with a number of these regulators to further discuss and progress this matter. The full letter is available under resources on the right.
