The Joint Forum, which includes the International Organization of Securities Commissions, has told financial services firms to identify business continuity staff. The Forum, which is also comprised of the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors, stressed that both firms and regulators should identify those responsible for communicating with staff and various external stakeholders. Such a group might include senior management, public affairs staff, legal and compliance advisers, the Forum stated in a paper entitled "High Level Principles for Business Continuity." The principles revised a consultation from December. The general theme of principles that are of a non-prescriptive nature was preserved in the final paper, said Philippe Richard IOSCO secretary general in Madrid. "[Comment] letters were supportive," Richard said. The principles noted that firms and regulators should also identify staff responsible for business continuity procedures. The staff should be able to communicate with personnel located at isolated sites, the paper stated.

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