5.2.3. Business Continuity Plan
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. The plan 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 make up 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
• The manner in which customers can promptly access their funds and securities should the firm become unable to continue its operation
If some of these categories are not applicable to the operations of the firm, the b