*Letters

SIA Submits Comments to the SEC on a Proposal Relating to Business Continuity and Contingency Planning

Published on:
April 24, 2003

The Securities Industry Association (SIA)* provides comments to theSecurities Exchange Commission (SEC) on a proposal relating to business continuity and contingency planning. SIA agrees with the New York Stock Exchange (NYSE) that the requirements ofa business continuity plan must be tailored to the size and needs of an individual firm, but that each plan must at a minimum address certain elements of continuity. SIA believes that language should be revised to require that the procedures be reasonably designed to enable a member to meet the continuity goals set forth in the member’s plan. SIA also requests that the rule proposal indicate the time required for implementation.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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