What should a disaster recovery checklist include for financial firms?

A disaster recovery checklist for financial firms should include RTO and RPO targets, backup verification schedules, failover testing procedures, regulatory notification requirements (SEC Rule 17a-4, FINRA Rule 4370), and documented recovery runbooks.

What are FINRA's requirements for business continuity planning?

FINRA Rule 4370 requires broker-dealers to create and maintain a written Business Continuity Plan (BCP) that addresses data backup, alternate communications, and regulatory reporting during disruptions.

How often should disaster recovery plans be tested?

Most regulatory frameworks recommend testing disaster recovery plans at least annually, with tabletop exercises quarterly. Financial firms under SEC and FINRA oversight should document all test results.

What is the difference between RTO and RPO?

RTO (Recovery Time Objective) is the maximum acceptable time to restore systems after a disruption. RPO (Recovery Point Objective) is the maximum acceptable amount of data loss measured in time. Both must be defined and tested in your DR plan.

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