Advisors registered with state authorities may soon be required to put in place formal business-continuity and succession plans. NASAA, the association of state securities regulators, has published a model rule that would compel advisors to develop plans covering issues like backing up books and records and putting in place an alternate communications plan to reach customers, employees and others in the event of a major disruption at the firm, such as a natural disaster or the death of a principal.


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