Business Continuity Redux: How the Perfect Storm Provided Regulators with the Perfect Opportunity

The breadth and destructive force of Hurricane Sandy, which in October 2012 spread across 15 states as the largest Atlantic hurricane on record, tested the financial industry’s best-laid plans for business continuity management (BCM). Regulatory authorities, such as the Securities and Exchange Commission (SEC), the Financial System Regulatory Authority (FINRA), and the Commodity Futures Trading Commission, used this event to re-examine, re-emphasize, and re-educate the financial base concerning common weaknesses and lessons learned. And beyond the regulatory compliance concerns, many investment advisors learned how a disaster could severely challenge their service to clients and the stability of their businesses.

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CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.

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