Business Continuity: Securities Law and CEA

Overview

"Business continuity" refers to the ability of a firm to maintain its functions during the course of an extreme negative event, or, at least, to quickly recover any lost functions. Financial regulators have focused on the ability of regulated firms to maintain continuity primarily so that their customers are not injured and so that the operational failure of a firm does not disrupt the market as a whole. Historically, business continuity focuses on events such as Y2k, terrorism, epidemics such as avian flu and, in the case of small firms, the death of a key person. However, these days, the most important business continuity issue is probably the ability to withstand a cyber attack.

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