| NFA Adopts Rule 2-38 pertaining to Written Business Continuity and Disaster Recovery Plans |
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| Since the events of September 11, 2001, the financial services industry has devoted increased attention to issues relating to disaster recovery plans. NFA's Board of Directors believes that disaster recovery and business continuity issues are of utmost importance and that NFA should be proactive in ensuring that its Members have adequate disaster recovery plans in place. As a result, NFA's Board recently adopted NFA Compliance Rule 2-38 to require all Members to adopt a business continuity and disaster recovery plan. NFA Compliance Rule 2-38 requires all NFA Members to establish and maintain a written business continuity and disaster recovery plan that outlines procedures to be followed during an emergency or a significant business disruption. This new Rule also requires members to provide NFA with the name of, and contact information for, one or two individuals who NFA can contact during an emergency. NFA is currently updating their systems to make this process as easy as possible. In the near future, they will notify Members about how and when to provide the contact information. |
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| Contact CSI to obtain further guidance on the components that should go into your plan and to learn how we can tailor a plan to your individual business. The exact form of the Plan adopted by various Members will vary based on a number of factors, including the size and complexity of your business and your resources. Nevertheless, CSI is ready and willing to provide your firm with additional guidance on the essential components of a Plan and what is required to maintain a Plan. Please use the “Contact Us” page on our website to inquire our services and to learn more about how we can help your firm comply with this new and important rule!! |
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