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The Business of Staying in Business

The Business of Staying in Business

by Rick Turoczy on August 23, 2006

Given the increasing importance of business continuity planning, regulators are already moving into the field. Lloyd says that as part of a U.S.-based company, Crawford Adjusters Canada was influenced by the Sarbanes-Oxley Act and its requirements for data retention and due diligence. In Canada, the Investment Dealers Association has a bylaw in place that requires all members to have a documented BCP implemented and tested by the end of July 2006. Benini points out that the Canadian Standards Association is also working on standards for emergency management and business continuity, expected to be published in February 2007.

Frederick suggests it could very well be shareholders of public companies who push even harder for effective business continuity plans. “Your investment is at risk if the corporation you invested in doesn’t have a plan that works,” he says.

The Business of Staying in Business

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