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US and global regulators are once again focused on having market participants design and implement business continuity and disaster recovery (BCDR) plans, as well as corresponding policies and procedures. This renewed focus is not solely in response to the disruption caused by the coronavirus (COVID-19) pandemic to markets, business and society, as plenty of events in the last two decades have proved that market participants should expect the unexpected. While it can be incredibly difficult to divine the nature of the next crisis, market participants must make efforts to anticipate novel disruptions with BCDR plans, policies and procedures.
Cadwalader Financial Services partner Peter Malyshev writes more here.