Question

Under nasaa rules, each registered investment adviser must establish, implement and maintain a business continuity and succession plan that is based on the:_____.

Answer 1

Under NASAA rules, each registered investment adviser must establish, implement and maintain a business continuity and succession plan that is based on the is based on the investment adviser's business model including the size of the firm, types of services provided, and number of business locations.

The North American Securities Administrators Association's Business Continuity and Succession Planning Model Rule is available to members. It mandates that every RIA (registered investment adviser) create, test, and keep updated a Business Continuity Plan tailored to the specifics of the registered investment adviser's operations, including the size of the firm, the services offered, and the number of locations. Protection, backup, and recovery of books and records; Alternative means of communicating with customers, key personnel, employees, vendors, service providers, and regulators, including notice to these persons of significant business interruption, cessation of business activities, or death or unavailability of key personnel; Relocation of office in the event of temporary or permanent loss of a principal place of business;

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