Given the events of 9/11, numerous natural disasters, cyber security threats and more, there has been increasing regulatory attention on business continuity (BC).
The SEC has taken various steps to address BC practices in the financial services industry and the ability of market participants to continue operations during times of crisis:
- For Registered Funds, SEC Rule 38a-1, adopted in 2003 under the Investment Company Act of 1940, requires firms to adopt and implement written compliance policies and procedures
- In 2012, the SEC conducted a joint review, with FINRA and CFTC, of continuity planning in the wake of Hurricane Sandy that resulted in a joint statement setting forth best practices and lessons learned
- In 2016, in the wake of the BNY-Mellon NAV calculation disruption, the SEC issued further guidance, calling for specific measures to increase robustness of continuity plans and exercises
- In 2018, the SEC National Exam Program Examination Priorities document states that regulators will: “assess entities’ readiness and BC plan effectiveness…and enterprise risk management, including whether these programs cover appropriate business units, subsidiaries, and related interconnected infrastructure.”
In a recent webinar, SS&C DST Chief Risk Officer Blair Williams explores these regulatory requirements, as well as:
- Challenging questions about your level of preparedness
- Introduction to SS&C DST’s business continuity planning advisory service and POC opportunities to help you prepare your organization for future crisis events
SS&C DST plans and executes risk assessments, exercises and mitigation activities to protect the business operations that you have entrusted to us. Now, we can help you extend these activities to the rest of your organization. In a consultative engagement, we can help you prepare your organization to enhance your resilience so when future events occur, you are ready to execute a comprehensive business continuity plan that meets your specific needs.
Company News and Events, Regulation