Insights | 07.21.20
Business Continuity Planning Is Top Compliance Concern for Advisory Firms
The 2020 Investment Management Compliance Testing Survey has found that business continuity plans have become major compliance concerns for investment advisory companies. The survey says close to two-thirds of firms said maintaining business operations during the coronavirus pandemic has been a top issue. However, many firms said they have been able to handle the challenge. Only 12 percent of respondents said they experienced a "material impact" because of the pandemic. This is despite 81 percent saying their entire staff was working from home. The second top issues causing concern among advisory businesses was cybersecurity at 57 percent. Other issues listed were advertising, conflicts of interest, and environmental, social, governance.
Read the full article on Think Advisor.