Fiduciary duty requires disaster-recovery plan, SEC says

08/29/2013 | ThinkAdvisor

The Securities and Exchange Commission has issued a National Exam Program alert to investment advisers, saying that business-continuity and disaster-recovery plans are required as part of their fiduciary duty. When Hurricane Sandy hit last October, some advisers had inadequate plans, the SEC said, and they "generally experienced more interruptions in their key business operations and inconsistent communications with clients and employees."

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