Terms of Association as a Society
Revision April 2015
Following an informal existence for many years, HKFSBCM had the first Terms of Reference (ToR) were agreed on 18.Aug.2011. This revision of the ToR was agreed in the meeting of 19.Nov.2014
1. Name
1.1 The name of the Society shall be “Hong Kong Financial Services Business Continuity Management" Forum, which can be abbreviated to HKFSBCM and hereinafter referred to as the “Forum”.
2. Address
2.1 The address shall be such place as decided upon by the board.
3. Scope
3.1 The Forum focuses specifically on the banking and securities industry in Hong Kong, covering topics related to business continuity, disaster recovery and crisis management as well as identifying and mitigation of related risks.
3.2 The Forum is a non-profit, non-governmental society and shall not engage in commercial activities nor invest or own property, securities, real estate or other asset of a trading or investment nature.
4. Objectives
4.1 Provide a forum for open discussion of Business Continuity Management (BCM) topics, allowing information and insight to be shared and, thus, provide a framework to leverage ideas and experience;
4.2 Create a coordinated network of BCM contacts throughout the financial industry which could also act as a crisis management team to deal with tactical situations effecting one or more firms; as well as the market;
4.3 Provide the opportunity for multilateral or bilateral strategic initiatives between member firms;
4.4 Work together in a co-operative way, in times of major or significant catastrophic event or disaster, in order to have the best chance of protecting our staff, facilitating recovery and sustaining both a stable financial market and customer confidence;
4.5 Provide a forum to allow regulators and other official bodies to keep the group updated and provide guidance on BCM requirements and issues;
4.6 Discuss common third party, vendor related issues and, where appropriate, invite the vendor to present their services allowing the group to provide consolidated feedback on improvements and issues to the vendor;
4.7 Work in parallel and in collaboration with similar and like-minded organizations.
5. Membership
5.1 The Forum’s membership shall be open to individuals who are employed by, and hold responsibility for Business Continuity Management or a related risk discipline in Financial Sector firms that are involved in the banking and/or securities industry with a presence in Hong Kong and/or Asia.
5.2 Although Membership involves representing a firm, a member is also allowed and welcomed to share opinions, experience or ideas à titre personnel.
5.3 Membership requires regular attendance and participation in The Forum’s meetings and/or other activities. The board can advise the Full Forum meeting to terminate a membership. Providing just cause is for reasons that go against the principles stipulated in the terms.
5.4 Every member shall pay an annual subscription to the Society; the amount shall be determined or revised by the Board, from time to time, but with prior notice and agreement by the Forum members.
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