Mon, Jun 23, 2014
There are rumors that “Occupy Central Movement” will be taking place in July this year. Unlike the previous “camping out” event under the HSBC headquarters, this year the “Occupy Central Movement” is proposed to be a large-scale civil protest and may lead to a full blockade of Central, bringing Hong Kong’s financial center to a standstill.
The Hong Kong Police Force may take action to maintain public order by blocking streets and limiting access to certain areas, including Central office buildings. If the event goes ahead, all SFC licensed corporations should review their current Business Continuity Procedures to ensure that business operations within the firm, as well as with ongoing service providers, are not disrupted.
Kinetic Partners recommends that you review your Business Continuity Plan (“BCP”) to ensure your business operations can continue in any event, and potentially adverse impacts to your clients are minimized.
In particular, you should:
If as a result of the “Occupy Central Movement”, a firm is required to implement its BCP, this implementation can serve as the annual BCP test/review for those firms registered with the SEC and/or CFTC.
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