ASIC has today released a letter to market participants outlining technological and operational resilience guidance, clarifying how to identify critical business services and notification of a major event.

The guidance relates to the technological and operational resilience requirements detailed in Chapters 8A and 8B of the ASIC Market Integrity Rules (Securities Markets) 2017 and ASIC Market Integrity Rules (Futures Markets) 2017.

ASIC expects market participants to maintain a strong and continued focus on their technological and operational resilience, noting it is not a ‘set-and-forget’ process. Adjustments to critical business services arrangements should be made as required.

ASIC is committed to advancing digital and data resilience and safety as one of its strategic priorities for 2024-25. Resilient market operators and market participants are essential to the integrity of our securities and futures markets and to the efficient functioning of the economy.

The market integrity rules set minimum expectations and controls to mitigate risks to help safeguard the integrity and resilience of Australia’s markets.

ASIC encourages market participants to carefully consider the guidance set out in the letter and in Regulatory Guides 265 and 266, as it clarifies expectations around critical business service arrangements, specifically market participants’ identification of critical business services and major event notifications.

ASIC will now consult with industry on incorporating this guidance into Regulatory Guides 265, 266, and 172 when they’re next updated.