Regulatory Alerts2024-05-09
Added · Updated
Notice on Technology Risk Management for Licensed Financial Advisers
Licensed financial advisers must establish a framework to identify critical systems and maintain high availability, ensuring maximum unscheduled downtime does not exceed 4 hours in any 12-month period. Advisers are required to set a recovery time objective of no more than 4 hours for each critical system and validate this through testing at least once every 12 months. Upon discovering a relevant incident, advisers must notify the Authority within 1 hour and submit a root cause and impact analysis report within 14 days. Additionally, advisers must implement IT controls to protect customer information from unauthorized access or disclosure.
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