The Investment Industry Regulatory Organization of Canada has rescheduled its planned industry-wide business continuity test until September 2011.

In an IIROC noticed published Monday, IIROC said it recently decided to cancel a business continuity planning test that was scheduled for June 26, due to complications associated with the G20 meeting which is now scheduled in Toronto at the same time.

IIROC considered rescheduling the test for late 2010, but says that “proved to be impractical considering the length of time utilities require for participation in such tests.” Instead, it has rescheduled the industry test for September 10, 2011.

The regulator says that to ensure a meaningful and realistic test, it has confirmed that all the major service providers will be taking part in the test, including: Alpha Trading Systems, Belzberg, Broadridge BPS, Broadridge Dataphile, CDCC, CDS, chi-x Canada ATS Ltd., CNSX Markets Inc., Fidessa, FundSERV, IBM Canada, IRESS, ITS, Omega ATS, the Bourse de Montreal, TriAct and TSX.

Following the conclusion of the test, IIROC will share the results of the test with all participating dealers.

IIROC strongly encourages all dealers to participate in these voluntary tests “as they represent a valuable opportunity for dealer members to supplement their respective mandatory, in house annual tests which are required under IIROC regulation.”

Subsequent business continuity planning tests will be conducted on a bi-annual basis, IIROC says. And, its contingency planning sub-committee has adopted a long range plan for conducting industry wide testing of dealers’ business continuity plans.

IE