Business Continuity Planning

Financial services is a critical infrastructure sector. Through SIFMA, the industry has a robust infrastructure for dealing with incidents that can interrupt business and market functions.

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.

In addition to business continuity planning efforts on behalf of the industry, SIFMA has coordinated requests for regulatory relief, monitored market trends and metrics, and looked to how the markets and industry might be reshaped by the pandemic. View more information and resources on the COVID-19 response.

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:

BCP Resources for COVID-19

Industry-Wide Business Continuity Test

SIFMA’s industry-wide business continuity test is a critical exercise that highlights 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.

The 2020 Industry Test was held on Saturday, October 24. Learn more.

Cybersecurity Resources

Cybersecurity is a top priority in the financial industry to ensure the security of customer assets and information and the efficient, reliable execution of transactions within markets.

Emergency Crisis Command Center

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.

Contacts