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Business Continuity Planning, Disaster Recovery, Succession Planning and More

August 7, 2018
1:00 PM - 4:00 PM EDT
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Course Description:

In June 2016, the SEC issued a rule proposal, Adviser Business Continuity and Transition Plans, which would prohibit an SEC-registered investment adviser from providing investment advice unless the adviser adopts and implements a written business continuity and transition plan and reviews the plan at least annually. While a final rule has yet to be released, many advisers have already adopted changes to their programs to address many of the rule elements. The SEC continues to show interest in adviser plans for responding to natural disasters and other business disruptions. In addition, examinations have also requested information related to transition plans for exiting the business or the continuation of services when a principal is unable to perform them.

Required written policies and procedures help ensure the continued operation of the firm when faced with any adverse conditions including weather events, terrorism, information breaches, loss of key personnel or offices, and health crises such as pandemics.

A disaster that rapidly occurs and impacts the firm has special implications for the compliance department. As a compliance professional, will you know how to prepare for, and effectively respond to an event with unintended consequences? Key takeaways for this session include:

  • SEC Risk Alerts regarding business continuity planning and cybersecurity;
  • Transition planning, as required in the June 2016 SEC proposal.
  • Regulations, concerns and responsibilities that impact compliance professionals;
  • New lessons learned from actual disasters and strategies to achieve a smooth, seamless recovery response; and
  • Implications of the use of cloud-based technology, including remote employee access, geographical separation of business units and back-up services, data protection, and record retention and access.

After attending this course, attendees should be able to:

  • Examine business continuity planning/ disaster recovery concepts to help manage compliance and regulatory expectations, and develop the most appropriate process that minimizes liability and improves safety for your firm and its clients
  • Pinpoint the SEC and FINRA areas of concern that should drive required written compliance policies and procedures, and the implications of the June 2016 SEC proposal
  • Use transactional, periodic and forensic testing of business continuity policies and procedures to help prevent and prepare for, and potentially recover from, a disaster
  • Identify systemic problems to initiate and implement prompt corrective action
  • Use lessons learned to prioritize work flow and assign tasks for establishing effective policy, procedures and internal controls, and for minimizing risk and loss
  • Discuss actual examples from recent disasters of varying magnitude as well as from examiners’ expectations to help evaluate what processes might work effectively for your firm’s business and its employees and clients

For Whom: Designed to increase the professional competence of financial services compliance professionals with legal, compliance, operations, technology, administrative and management responsibilities

Suggested Skill Level: Intermediate

Instructional Method: Group Internet-Based

Pre-requisites for participation: No prerequisites are required.

Advance Preparation: None

NRS Continuing Education Guide
Maximum Recommended CPE Credit: 2 in the Regulatory Ethics field of study
Maximum Recommended IACCP® CE Credit: 2
Maximum Recommended CA MCLE Credit: 2
Maximum Recommended CFP® Credit: Pending