On the heels of FINRA’s notice regarding pandemic-related business continuity measures, CRC would like to take this opportunity to remind all financial services clients that now is the time to review, test, and update BCPs, disaster recovery procedures, and cybersecurity policies and procedures. Firms should be focused on determining whether business continuity plans are sustainable for the potentially long-term duration of the COVID-19 outbreak, as well as confirming with vendors and communicating regularly with clients and, if necessary, regulators. Partnering with a compliance professional to coordinate pandemic BCP efforts can streamline this process and alleviate additional stress on your firm. Watch this video to see what other areas firms should consider to ensure that BCPs can withstand this current health, social, and economic crisis.
Watch the full video by clicking here!