Business Continuity Disclosure
Sharegain Securities Inc. (“SSI”, “we”, or “us”) has designed a business continuity plan (“BCP”) to evaluate and manage a potential significant disruption to its business operations so that we may continue critical business functions in the event of an emergency. Critical functions include the storage and preservation of data, alternate communications with clients and regulators, and alternate communications with employees. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.
In the event of a significant business interruption, we will assess which means of communication are still available to us, and use the means closest in speed and form (written or oral) to the means that we have used in the past to communicate with the other party.
The BCP was designed after reviewing the potential risks and ability to recover from key losses. The BCP is reviewed and updated at least annually. The BCP includes discussion of potential disruptions including loss of our office, loss of communication services, and loss of power. Our BCP addresses: data backup and recovery; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; and regulatory reporting.
In the event of a significant disruption, it is our goal to recover from the disruption as soon as possible so that we can continue business operations. We intend to respond to such disruptions by safeguarding our employees and property, making a financial and operational assessment, and protecting SSI’s books and records. In short, our business continuity plan is designed to permit us to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Significant business disruptions can vary in their scope. A disruption may affect only our firm, the building housing our offices, the New York City business district where our offices are located, the NYC metropolitan area or a larger region. The severity of the disruption can also vary from minimal to severe. In any disruption, we will make every effort to continue our operations from a local site when needed and expect to recover and resume business as soon as possible. The nature of the BCP is to lessen the impact of emergencies. Because events that bring about disruptions are unpredictable, we may have no ability to restore full service in the event of failures in certain infrastructure such as utilities, communication networks, transportation, and third-party providers. We do not guarantee that we will be able to continue or resume business operations within any specified period of time under all circumstances.
For more information or if you have questions about our business continuity planning, you can contact us at the address listed below.