Bangkok, 19 March 2020 – SEC has disseminated a circular to business operators under SEC supervision on 28 February 2020 in order to advise necessary preparations and the guidelines on business continuity management (BCM) as well as a business continuity plan (BCP) to handle the situation that may affect business operation and prevent the spread of the novel coronavirus disease (COVID-19). SEC has been sharing advice and suggestions with securities companies and derivatives business operators on a regular basis, and on 18 March 2020, all of them confirmed readiness to tackle the situation.
SEC requests that business operators
implement the BCP that must cover key work systems, including the trading
system, the risk control system in compliance with the Net Capital Rules and the
investment management system. This includes providing a communication channel that
facilitates notifying and clarifying information to clients in case of major
changes to service provision.
“After continuous monitoring and
coordinating with the business operators, we have found that they have
implemented their BCP to manage possible impacts of COVID-19 and opened an alternative
site or installed remote working system. Different working teams are assigned
to work remotely to mitigate operational risk and ensure that the operations
and the services to the public will continue without interruption,” said Ms.
Ruenvadee.
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