Small Business Contingency Plan Template

Every business depends upon certain "givens," which range from retaining key personnel, to emergency planning, to credit arrangements.But what happens when a relatively young CEO is killed in an accident or when an earthquake destroys a company's headquarters?The template recognizes that many small introducing firms rely on parts of a clearing firm’s BCP for many of the mission critical functions of the introducing firm.

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In this small firm, only the principal has authority to trade on behalf of its clients; therefore an alternative means of communication between the principal advisor and a single clerical employee isn't required to ensure that the business can continue without interruption.

If the firm had multiple registered advisors handling client accounts, alternative communication means similar to those required for the principal advisor would be required and in place.

business operational during an unforeseen event, such as a disaster.

It institutes risk management procedures and processes, with the goal of avoiding or reducing disruption of mission-critical services for the business, while restoring all operations as rapidly and smoothly as possible.

The question is simply: The first thing the SEC requires is that there is will always be some means of clients being able to access their information in the firm's accounts, importantly the record of each client's current equity holdings, but also essential documentation related to tax advice and retirement planning.

The contingency plan deals with this need in two ways: This two-step data availability plan guarantees that if, the firm's building is destroyed, the information remains fully available offsite, both to the firm and, independently, to its clients.

Since the firm's correspondent brokerage has the same SEC-mandated information availability obligation as the advisory firm, client records kept at the brokerage are also available at an offsite location maintained by the brokerage.

Thus, client records are stored and continuously maintained at at least four separate physical locations and on the cloud.

things that can be disruptive – a classic instance is the small business that gets a huge contract far beyond the company's current ability to fulfill it.

Contingency plans lay out what should happen when one or more of these unexpected events occurs.


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