The Small Firm Business Continuity Plan Template offered by FINRA is designed as an optional tool to aid small introducing firms in meeting their responsibilities under FINRA Rule 4370, which pertains to Business Continuity Plans and Emergency Contact Information.
Key Features:
- Customizable Template: Serves as a starting point that firms can tailor to fit their specific size and operational needs.
- Compliance Assistance: Helps firms address the requirements of FINRA Rule 4370 regarding business continuity planning.
- Disclaimer: Emphasizes that using the template does not guarantee compliance and firms must adapt it to their unique circumstances.
- Regular Updates: FINRA reviews and updates the template periodically to reflect regulatory changes.
Use Cases:
- Small Introducing Firms: Assists these firms in creating a BCP that addresses potential disruptions.
- Compliance Officers: Provides a structured framework for developing and maintaining a business continuity plan.
- Risk Management: Helps firms identify and mitigate risks to ensure business operations can continue during emergencies.
