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 continue its operatio