GAO warns SEC over BCP preparedness
WASHINGTON, DC -- The Governmental Accountability Office (GAO) has charged that the US-critical securities market organisations and market participants are still not adequately prepared for wide-scale disasters.
In a report released in October on financial market preparedness, the country's Congressional investigative arm said that although improvements have been made in business continuity planning (BCP) in the financial services sector, more needed to be done to secure the markets in times of major crises caused by events such as terrorist attacks and other wide-scale disasters.
The GAO urged the Securities and Exchange Commission (SEC) to revamp its oversight over BCP efforts at all the stock
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