📅 2026 Update: Key Changes in Business Continuity Planning

Since the original article was written, there have been significant updates in business continuity planning. The Financial Industry Regulatory Authority (FINRA) has made new requirements for member firms. Additionally, the International Organization for Standardization (ISO) has released a new standard for Business Continuity Management Systems.

These changes impact how businesses prepare for emergencies and disruptions. The original article continues further down, providing additional insights and information.

📈 FINRA Rule 4370 Update

In May 2026, FINRA updated Rule 4370. This rule now requires all member firms to have a written Business Continuity Plan (BCP). The BCP must address emergencies and significant business disruptions.

This means firms need to take proactive steps to safeguard their operations.

  • 📋 Written Plans: Member firms must create detailed plans that outline their response to various emergencies.
  • 🔄 Annual Reviews: A designated senior manager must review the BCP each year to ensure it remains effective.

⚙️ ISO 22301 Adoption

In 2025, ISO released ISO 22301:2025, a revised standard for Business Continuity Management Systems. This new standard emphasizes a risk-based approach to testing and validation.

  • 🔍 Regular Testing: Organizations are now required to regularly test their BCPs to ensure they are effective.
  • 📊 Risk Assessment: Companies should assess their current practices against this new standard to identify gaps and improve their plans.

💰 Current Costs of Compliance

As of 2026, firms need to allocate resources for developing and implementing their BCPs. Specific costs can vary widely depending on the firm's size and complexity.

  • 🛠️ Budgeting for Compliance: This includes costs for personnel time, technology investments, and third-party consulting fees.
  • 📅 Planning for Expenses: Organizations should plan for annual reviews and updates to their BCPs, which can incur additional costs.

📅 Implementation and Certification Steps

Both FINRA Rule 4370 and ISO 22301:2025 have specific steps for compliance and certification.

  • 🛠️ Developing Plans: Firms must develop written plans that detail data backup, critical systems, and communication strategies.
  • 🔄 Internal Audits: Regular internal audits are essential to evaluate the effectiveness of the BCP and ensure compliance with ISO standards.

📌 Key Points Summary

  • 📅 FINRA now requires a written BCP for member firms.
  • ⚙️ ISO 22301:2025 emphasizes a risk-based approach to business continuity.
  • 💰 Costs for compliance can vary, including personnel and technology expenses.
  • 🔄 Regular reviews and audits are necessary for effective business continuity management.

💡 Tips for Business Continuity Planning

Reviewing your business continuity situation with an attorney is essential for compliance and effectiveness.

📝 Assess Your Risks

Identify the risks your business faces. This includes natural disasters, cyber threats, and operational disruptions. A thorough risk assessment will guide your planning.

📊 Develop a Comprehensive BCP

Create a Business Continuity Plan that addresses all critical areas. Include data backup, communication plans, and recovery strategies. Ensure that your BCP is easy to understand and accessible.

🔄 Conduct Annual Reviews

Regularly review your BCP to ensure it remains relevant. Assign a senior manager to oversee these reviews. This keeps your plan updated with any new threats or changes in your business.

🛠️ Train Your Staff

Ensure all employees are familiar with the BCP. Conduct training sessions so everyone knows their role during an emergency. Well-trained staff can help minimize confusion and streamline recovery efforts.

📞 Communicate with Stakeholders

Provide clear communication to stakeholders about your BCP. This includes customers, suppliers, and partners. Transparency helps build trust and ensures everyone understands their responsibilities.

📈 Utilize Available Resources

Make use of resources from organizations like the U.S. Small Business Administration (SBA) and FEMA. They offer valuable guidance and tools for developing effective continuity plans.

🏆 Business Continuity Services Ranked by User Reviews (2026)

This section highlights services that assist with business continuity planning. These services are ranked based on Trustpilot data from October 2026. Star ratings are just one indicator of service quality, as unhappy customers often leave more reviews.

🥇 1. LegalZoom

LegalZoom has been rated 4.6. It is known for its business formation services and legal document preparation. Reviewers appreciate the range of services available but mention that some users experience delays in processing times.

🥈 2. Bizee

Bizee holds a Trustpilot score of 4.8. This service is known for business formation and registered agent services. While it has high customer satisfaction, some users report issues with customer support responsiveness.

🥉 3. Rocket Lawyer

Rocket Lawyer has a Trustpilot rating of 4.5. It offers legal document creation and legal advice services. Users find value in the service but some believe the subscription model can be costly for infrequent use.

🆓 Free Government Resources

The U.S. Small Business Administration (SBA) and FEMA provide free resources for businesses. The SBA offers guidance on developing business continuity plans.

FEMA focuses on integrating these plans with emergency response strategies.

🔎 Choosing the Right Service

When selecting a service for business continuity planning, consider:

  • 🏅 Trustpilot ratings and reviews.
  • 💰 Pricing structures and hidden fees.
  • 🛠️ Range of services offered.
  • 📞 Customer support availability.
  • 🔄 Ease of use and accessibility of resources.

❓ Frequently Asked Questions

❓ What is a Business Continuity Plan (BCP)?

A Business Continuity Plan (BCP) is a document that outlines how a business will continue operating during an emergency or significant disruption. It includes strategies for data backup, communication, and recovery.

🛠️ How often should I review my BCP?

It is recommended to review your Business Continuity Plan at least once a year. This ensures that the plan stays up-to-date with any changes in your business or new risks that may arise.

⚖️ Who needs to comply with FINRA Rule 4370?

All member firms of FINRA are required to comply with Rule 4370, regardless of their size or business model. This makes it essential for all firms to develop and maintain a Business Continuity Plan.

🔍 What are the costs associated with ISO 22301 certification?

Costs for ISO 22301:2025 certification can include training, internal audits, and certification body fees. These expenses vary based on the organization's size and complexity.

📅 How do I get started with ISO 22301 certification?

To start with ISO 22301 certification, conduct a gap analysis to assess your current practices. Then, develop a Business Continuity Plan based on the identified gaps and implement it across your organization.

📞 Can I get free help for my BCP?

Yes, organizations like the U.S. Small Business Administration (SBA) and FEMA offer free resources and guidance for businesses. These can help you develop and implement effective Business Continuity Plans.

⚖️ Recent Cases Related to Business Continuity Planning

Recent court rulings have highlighted the importance of business continuity planning in various legal contexts. These cases often involve disputes related to compliance with industry regulations and the effectiveness of continuity strategies.

For more recent rulings, feel free to check more rulings on the news page.

End of October 2026 Update






The Facts on Business Continuity Planning: A Guide to Protecting Your Business


In today's fast-paced and unpredictable business environment, it's essential to have a solid plan in place to ensure your organization can continue to operate smoothly in the event of a disruption.

Business continuity planning is a critical aspect of risk management that helps organizations prepare for and respond to unexpected events, such as natural disasters, cyber attacks, and pandemics. In this article, we'll delve into the facts on business continuity planning and provide you with a comprehensive guide to help you protect your business.

What is Business Continuity Planning?


Business continuity planning (BCP) is a process that helps organizations develop and implement strategies to ensure the continuity of their operations in the event of a disruption. It involves identifying potential risks, assessing the impact of those risks, and developing plans to mitigate or recover from those risks.

Why is Business Continuity Planning Important?


Business continuity planning is essential for organizations because it helps them:

  • Reduce downtime and minimize financial losses

  • Protect their reputation and customer loyalty

  • Ensure the safety and well-being of employees and stakeholders

  • Comply with regulatory requirements

  • Improve overall business resilience


Key Components of a Business Continuity Plan


A comprehensive business continuity plan should include the following key components:

1. Risk Assessment: Identify potential risks and assess their likelihood and impact on the organization.

2. Business Impact Analysis: Analyze the potential impact of each risk on the organization's operations, finances, and reputation.

3. Business Continuity Strategy: Develop a strategy to mitigate or recover from each risk.

4. Emergency Response Plan: Establish a plan for responding to emergencies, including evacuation procedures, emergency contact information, and emergency funding.

5. Recovery Plan: Develop a plan for recovering from disruptions, including procedures for restoring IT systems, restarting operations, and communicating with stakeholders.

6. Testing and Exercises: Regularly test and exercise the business continuity plan to ensure its effectiveness and identify areas for improvement.

7. Communication Plan: Develop a plan for communicating with stakeholders during disruptions, including customers, employees, suppliers, and regulators.

Best Practices for Business Continuity Planning


To ensure your business continuity plan is effective, follow these best practices:

1. Involve Stakeholders: Involve stakeholders from all levels of the organization in the planning process.

2. Keep it Simple: Keep the plan simple and easy to understand.

3. Prioritize: Prioritize critical functions and resources.

4. Test Regularly: Regularly test and exercise the plan to ensure its effectiveness.

5. Review and Update: Regularly review and update the plan to reflect changes in the organization or risks.

Common Business Continuity Planning Mistakes


Avoid these common mistakes when developing your business continuity plan:

1. Not Considering All Risks: Failing to consider all potential risks can leave your organization vulnerable.

2. Not Prioritizing Critical Functions: Failing to prioritize critical functions can lead to delays or losses during a disruption.

3. Not Testing Regularly: Failing to test regularly can lead to errors or omissions in the plan.

4. Not Communicating Effectively: Failing to communicate effectively with stakeholders can lead to confusion or panic during a disruption.

Conclusion


Business continuity planning is a critical aspect of risk management that helps organizations prepare for and respond to unexpected events. By understanding the key components of a business continuity plan, following best practices, and avoiding common mistakes, you can ensure your organization is well-prepared to withstand disruptions and continue operating smoothly. Remember, business continuity planning is an ongoing process that requires regular testing, review, and updates to ensure its effectiveness.

In conclusion, implementing a solid business continuity plan is essential for protecting your business from unexpected events. By following these facts and best practices, you can ensure your organization is well-prepared to respond to disruptions and continue operating smoothly.



 

What is Business Continuity Planning?


Business Continuity Planning helps a company identify potential threats to a business staying in business and offers help in planning for these events.  A common business continuity plan will identify potential damage caused by building fires, local weather events, blackouts, or loss of suppliers.  Business continuity plans are tailored specifically for each business and will over the decision makers in the company with alternatives to ensure that they can continue business in spite of events that occur outside of their control.

How To Use Business Continuity Planning for your Company


1. Identification of Important Staff

The first phase of writing a business continuity plan is to identify the weaknesses of your company.  You must create a list of staff that your business cannot function without and their key duties and responsibilities.  You will need to consider how your business can continue if you lose these people for short term or long term periods.  In case of injury or sickness, you should consider investing in resources that will allow your key employees to contribute from home or other areas.

2. Documentation of Key Contacts and Emergency Lines

After identifying potential weaknesses from lost clients, you must document all contacts with suppliers, clients, and emergency contacts. Your suppliers and clients need to have an open line of communication in order to inform you of issues and likewise, you need to inform them of any changes or problems you are encountering.  Emergency contacts should be listed and available to all employees, in order to assure that your building, products, and infrastructure is safe and secure.  Communication is one of the easiest but most important part of business continuity planning.

3. Identification of Important Documents

After creating a list of emergency contact, you should identify all critical documents and contingency equipment.  These items should be accounted for and secured in a safe place.  You may need to access these items during an emergency, so ensure they are readily accessible and easily transported should you face physical dangers, such as evacuation or loss of your building.

4. Implementation of the Plan

Implementation is the last phase of business continuity planning and may require trial and error before it can be properly initiated.  Changes that are recommended by the plan need to be put into place, and this may take extensive time and resources before the entire business continuity plan is fully realized.  Additional assets may need to be sought, properties purchased, or the most common, insurance protection needs to be obtained and tailored for the specific risks that may occur.  Insurance is a very important part of emergency planning for any company, but it must always be determined if their costs outweigh the potential benefits they may provide.

Maintaining and Updating your Business Continuity Plan


Business continuity plans often must be maintained and updated in order to stay relevant for a company.  Companies evolve and change constantly and as a result, so do the potential risks and appropriate responses to those risks.  Changes to staff, personnel, locations, clients, areas of focus, and growth can all lead to business continuity plans that may be inadequate or even improper for your current needs.

Some plans may even provide for testing and review, in which certain emergency situations are drilled and studied in order to determine how well the company copes with them.  Therefore, to maintain your business continuity plan, you must schedule reviews every 6 months to 2 years, depending on how fluid your company may be.  During each review period, you will need to identify the changes to your company and change the business continuity planning accordingly.

The Facts on Business Continuity Planning