In the wake of the Sandy Task Force report, it is interesting to see the federal regulators of the financial industry urging better emergency preparedness efforts. Article titled U.S. regulators urge firms to improve business continuity and disaster recovery plans. The lead paragraphs follow:
Futures and securities firms should review their industry-wide and internal business continuity and disaster recovery plans to improve responsiveness to significant disruptions and reduce recovery time, their regulators said Friday in a staff advisory.
U.S. regulators have been particularly concerned over how financial firms plan for disasters since the attacks of September 11, 2001, and through the President’s Working Group on Financial Markets during the administration of George W. Bush urged the industry to strengthen its defenses. The concerns have included flooding following Hurricane Katrina and the threat of an influenza pandemic, and are growing.
The specifically identify 7 areas of operations that the owners/managers should address.