Securities and Exchange Commission — BC/DR plans for financial advisory firms.
Stay In Business lets you adhere to the 2016 Securities and Exchange Commission (SEC) rule — a highly sought compliance standard being adopted by financial advisory firms across the investment sector. SIB allows you to design, develop, deploy, and maintain business continuity and disaster recovery solutions that align with SEC's regulatory norms, which specifically focus on inadequacies and inconsistencies in recovery plans.
One of the highlights of SEC is that it obliges organizations to design BC/DR plans for scenarios that can occur during both stable and volatile market conditions — improving brand perception and customer loyalty through an operationally resilient business model.
SEC requires plans for disruptions under both stable and volatile market conditions
Yearly testing of BC and transition capabilities is mandated under SEC guidelines
Standalone or combined BC and business transition plans are both supported by SIB
As per SEC guidelines, a financial advisory firm's BC and disaster recovery plans must address the following areas — all supported by SIB.
Identify and document operational risks specific to your firm, with corresponding response strategies for each. SIB's threat assessment and risk tools help map these risks systematically across all business functions.
SEC requires documented policies and procedures for system maintenance and efficiency, data security, and standby physical facilities. SIB supports defining these controls and assigning ownership to the appropriate personnel.
SEC norms highlight the protection, transfer, and distribution of customer assets during a transition. SIB supports designing standalone or combined BC and business transition plans — covering mergers, acquisitions, market withdrawal, and facility shutdowns.
SEC requires yearly plan evaluation, scheduled testing, and archival of plan records. SIB supports scheduling and documenting annual BC and transition capability tests — with records retained for regulatory review.
From vendor assessment to disruption response — SIB's platform addresses every SEC compliance requirement in one place.
Policies and procedures for sharing information with staff and customers — including protocols for contacting and keeping individuals prepared and engaged during a disruption.
Strategies for assessing external vendor services and their ability to continue supporting your operations during a disruption — a key component of SEC's third-party risk requirements.
SEC testing guidelines require validation of data recovery procedures and backup records. SIB supports documenting and testing these procedures as part of the annual review cycle.
Design location-specific solutions that address hazards unique to each facility — from power outages and system malfunctions to cyber security breaches and environmental hazards.
SEC norms address the specifics of each customer profile and the transfer of customer information between advisory firms — SIB supports documenting these procedures per regulatory requirements.
SEC testing includes validating contact information and keeping individuals prepared. SIB's headcount and notification modules ensure contact data remains current and staff are reachable when needed.
Explore the platform's capabilities, test its features, and choose a solution that meets your SEC regulatory requirements.