Hong Kong coronavirus: SFC asks companies to ensure business continuity as mass testing looms
- The reminder came as surging cases led to the toughest social distancing curbs yet in the two years since the pandemic hit Hong Kong
- SFC has reminded member firms to review and update business continuity plans amid potential for disruption
The Securities and Futures Commission has urged Hong Kong businesses to prepare for compulsory universal Covid-19 testing, an event that is likely to affect their operations as the city struggles to contain an Omicron-fuelled fifth wave of the pandemic.
“Amid the acute situation of the fifth wave of Covid-19 infections in Hong Kong, the SFC again reminds licensed corporations to review and update their business continuity plan (BCP),” said an SFC circular issued late on Monday.
“As the HKSAR government has announced its intention to implement a Compulsory Universal Testing (CUT) scheme, albeit with the timing and details not yet announced, licensed corporations should start preparing now considering the number of actions that may need to be taken in advance.”
The reminder came as surging cases in the city led to the toughest social distancing curbs yet in the two years since the pandemic hit Hong Kong. Meanwhile, countries elsewhere – who were hit by the Omicron variant earlier and with higher rates of vaccination among the population – have started to ease restrictions in an effort to live with the virus.
As the city grapples with its worst coronavirus outbreak yet, 20 banks in the city have shut branches to stem the spread of the disease, and restaurants and supermarkets have also cut back their hours substantially, if not temporarily discontinuing operations.
