The Securities and Exchange Commission is probing how well firms’ business continuity plans have functioned so far during the Covid-19 public health crisis, one consultant says.
As part of these exams, the Office of Compliance Inspections and Examinations has been requesting documents concerning firms’ business continuity, policies or guidance they’ve issued since the outbreak, unforeseen issues that arose when the business activated its plans and how well the plan addressed disruptions to services provided by third-party vendors.
Foreside’s Jennifer DiValerio, Managing Director, Broker-Dealer Compliance, provided commentary around FINRA’s concerns and how they have asked firms to evaluate their business risks and create a game plan. Read Jennifer’s full comments in Ignites HERE.
