Series 28: Business Continuity Plans And Emergency Contact Information

Business Continuity Plans and Emergency Contact Information

Member firms must create and maintain a written business continuity plan identifying procedures to keep the business running in the event of an emergency or significant business disruption. It must be designed to enable the broker-dealer to meet its existing obligations to customers and to other counterparties. A business continuity plan must be kept readily available for delivery to FINRA promptly upon request.

The elements that comprise a business continuity plan may be tailored to the size and needs of the firm. However, each plan must address at a minimum:

• • Data back-up and recovery (hard copy and electronic)
• • All mission critical systems
• • Financial and operational assessments
• • Alternate communications between customers and the member
• • Alternate communications between the member and its employees
• • Alternate physical location of employees
• • Critical business constituent, bank, and counterparty impact
• • Regulatory reporting
• • Communications with regulators
• • Prompt access by its customers to their funds and securities should the firm become unable to cont