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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2021-01-01.

ANNEX X RECORD KEEPING, BUSINESS CONTINUITY PLANNING AND INFORMATION SYSTEMS (Article 11)

Record keeping

  1. (1)

    Information regarding the policies and procedures regarding the record keeping obligations set out in Article 8(4) and point 7 of Section A and points 7, 8 and 9 of Section B of Annex I to Regulation (EC) No 1060/2009:

    1. (a)

      an indication on which records are kept and for how long; and

    2. (b)

      an identification of the recipients of confidential information for each rating issued.

Continuity and regularity of the activities

  1. (2)

    Information regarding the continuity and regularity in the performance of the credit rating activities as set out in point 8 of Section A of Annex I to Regulation (EC) No 1060/2009, including:

    1. (a)

      description of the procedures to ensure continuity and regularity in the performance of the credit rating activities, including information on their applicability to service providers to which activities have been outsourced;

    2. (b)

      the types of business continuity planning tests expected to be conducted; and

    3. (c)

      the frequency of testing.

Information processing systems

  1. (3)

    Information regarding the information processing systems as set out in point 8 of Section A of Annex I to Regulation (EC) No 1060/2009, including:

    1. (a)

      the identity of the senior manager responsible for the information processing systems;

    2. (b)

      a description of the information processing systems including any back-up systems; and

    3. (c)

      a description of effective control and safeguard arrangements for the information processing systems in place as well as the mechanisms to monitor their effectiveness, including details of the procedures in place to ensure effective separation between the information processing systems used to report fees from those accessible to rating analysts and used to enter ratings and information about the rated entities or rated transactions.