Section 460-24A-126 - Business continuity and succession planIf you are an investment adviser registered or required to be registered pursuant to RCW 21.20.040, it is unlawful under RCW 21.20.020 for you to provide investment advice to clients unless you comply with the following requirements:
(1) You must establish, maintain, and enforce written procedures relating to a business continuity and succession plan. The business continuity and succession plan must provide for at least the following:(a) The protection, backup, and recovery of books and records;(b) Alternate means of communications with customers, key personnel, employees, vendors, service providers (including third-party custodians), and regulators including, but not limited to, providing notice of a significant business interruption or the death or unavailability of key personnel or other disruptions or cessation of business activities;(c) Office relocation in the event of temporary or permanent loss of a principal place of business;(d) Assignment of duties to qualified responsible persons in the event of the death or unavailability of key personnel; and(e) Otherwise minimizing service disruption and client harm that could result from a sudden, significant business interruption.(2) You must review, no less frequently than annually, the adequacy of the business continuity and succession plan established pursuant to this section and the effectiveness of its implementation.(3) You must tailor the business continuity and succession plan required by this section to the facts and circumstances of your business model, taking into account the size of your firm, the type(s) of services you provide, and the number of locations that you have.Wash. Admin. Code § 460-24A-126
Adopted by WSR 19-03-133, Filed 1/18/2019, effective 2/18/2019