Stay in Business lets you adhere to the 2016 Securities and Exchange Commission (SEC) rule. The SEC 2016 rule is a highly sought after compliance standard that is being adopted by many financial advisory firms in the investment sector.
Stay In Business allows you to design, develop, deploy and maintain business continuity and disaster recovery solutions that are in line with SEC’s regulatory norms that specifically focus on inadequacies and inconsistencies in recovery plans.
For instance, as per SEC guidelines, a financial advisory firm’s business continuity and disaster recovery plans would include:
- Operational risks and their corresponding responses
- Policies and procedures to ensure:
- System maintenance and efficiency
- Data security
- Standby physical facilities
- Sharing information with staff and customers
- Assessing external vendor services
- Strategies for business transitions;
- Yearly plan evaluation
- Archival of plan records
Your enterprise can also design plans that meet industry specific challenges associated with:
- Withdrawing from a market
- Discontinuing operations
- Shutting down facilities
- Mergers and acquisitions
One of the highlights of SEC is that it obliges your organization to design business continuity and disaster recovery plans for scenarios that can occur during stable as well as volatile market conditions. This in turn improves your company’s brand perception and customer loyalty through an operationally resilient business model.
SEC norms also highlight the protection, transfer and distribution of customer assets during a transition, keeping in mind the specifics of each customer profile as well as transfer of customer information between advisory firms.
SIB’s robust planning capabilities allows you the convenience of negotiating the significant changes your organization would have to implement while designing a BCDR plan as per SEC guidelines. The platform lets you create standalone plans for business continuity and business transitions. But you also have the option of combining both and designing a comprehensive solution that addresses all the requirements in a single plan.
The SIB platform can deal with disruptions from regular causes that range from minor to major levels of impact, such as:
- Power outages
- System malfunctions
- Cyber security breaches
- Environmental hazards and so on
But you can also design location specific solutions that address the hazards that are unique to your facility, thanks to the application’s wide array features and functionalities.
Testing
You can schedule yearly tests to evaluate your organization’s business continuity and transition capabilities as per SEC norms. SEC testing guidelines focus on:
- Data recovery
- Backup records
- Protocols for sharing information with staff
- Validating contact information and keeping individuals prepared and engaged
See for yourself how the application works
Witness our cloud based platform’s security capabilities in action
Play around with the software and explore its features
Compare and choose a solution that’s relevant to your organization
Consult our experts and decide on a pricing mechanism
Disasters
