Coronavirus (COVID-19) Resources
SIFMA is closely monitoring the Coronavirus (COVID-19) and its impact on our industry and the markets.
Financial services is a critical infrastructure sector as defined by the U.S. Department of Homeland Security. Its assets, systems and networks, whether physical or virtual, are so vital to the U.S. that their incapacitation or destruction would have a debilitating effect on security, national economic security and national public health or safety.
In the event of a significant incident that affects or has the potential to affect the operations of the financial system, SIFMA helps to coordinate the financial industry’s business continuity planning efforts. These efforts are managed through SIFMA’s Emergency Crisis Management Command Center, which identifies the status of industry participants, disseminates vital information and facilitates actions to assist market response and recovery. Coordination is arranged amongst financial firms, exchanges, industry utilities, regulators, government agencies and public sector emergency managers. SIFMA also has an Emergency Site for industry alerts. SIFMA regularly engages in BCP exercises and we have a high degree of confidence in the industry’s ability to respond to and recover from emergencies. We continue to monitor the situation closely.
Related Resource: COVID-19 Resource Center
Important Information for Essential Workers
Financial firms whose essential staff who may be traveling to critical facilities during hours when shelter-in-place directives are in force should physically carry on their persons:
- Memorandum on Identification of Essential Critical Infrastructure Workers During COVID-19 Response (CISA, March 28, 2020);
- Statement by Secretary Steven T. Mnuchin on Financial Services Sector Essential Critical Infrastructure Workers, (U.S. Department of the Treasury, March 22, 2020);
- Documentation, on company letterhead, detailing work-related travel and how it aligns with the financial services sector list of essential critical infrastructure workers; and
- A company identification card and government-issued ID.
Responses to COVID-19
Resources for COVID-19
See also: COVID-19 Resource Center
Industry-Wide Business Continuity Test
Registration is now open for SIFMA’s Industry-Wide Business Continuity Test.
This critical exercise for financial operations professionals demonstrates our industry’s ability to operate through a significant emergency using backup sites, recovery facilities and backup communications capabilities across the industry. SIFMA urges all firms to participate in this important event, which will be held on Saturday, October 24. Refer your team or register today.