Summary: The SEC proposed a rule Tuesday that would require investment advisors to put in place business continuity and transition plans, detailing how they would "minimize material disruptions" to service in the event of natural disasters, cyber attacks, technology failures, the departure of key personnel or other events. Advisors could tailor their plans to fit their operations and risks specific to their particular business models.
 I think it’s going to increase the velocity of conversations around this topic, and in so doing it is going to require advisors to think of potential solutions and then maybe a ‘hey, this is a good-for-now solution."Brian Hamburger, founder, MarketCounsel |
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