After Hurricane Sandy caused such devastation in the Northeast, FINRA began to question firms as to their business continuity plans and if precautions were in place.
FINRA has asked these firms about their relocation, outsourcing, and alternative trading plans. FINRA has not received responses, but it expects these firms to respond shortly. FINRA will likely use these results in its examination program for the upcoming year.
Although Hurricane Sandy was a tragic event, it does provide an opportunity for BDs to assess their preparedness for the next natural or man-made disaster.