📅 2026 Update: Key Changes in Business Continuity Planning

Since the original article was written, there have been important updates regarding Business Continuity Plans (BCPs). These changes affect how businesses prepare for emergencies and significant disruptions. The new rules and standards reflect a growing emphasis on effective planning and risk management.

The earlier article continues further down the page, providing foundational information on business continuity planning. Below are the significant changes that impact this topic.

📊 📝 FINRA Rule 4370 Update

In May 2026, the Financial Industry Regulatory Authority (FINRA) updated Rule 4370. This rule now requires all member firms to create and maintain a written Business Continuity Plan (BCP). The plan must address emergencies and significant business disruptions.

This change emphasizes the need for clear planning in the financial sector.

🔍 📅 ISO 22301 Adoption

The International Organization for Standardization (ISO) introduced ISO 22301:2025 in 2025. This standard focuses on Business Continuity Management Systems. It promotes a risk-based approach for testing and validating BCPs, ensuring that organizations are prepared for unexpected events.

💰 📈 Compliance Costs

As of 2026, FINRA member firms must budget for compliance with Rule 4370. This includes costs for developing, implementing, and annually reviewing their BCPs. Expenses vary based on firm size but may include personnel time and technology investments.

🔄 📅 Implementation Steps

For FINRA Rule 4370 compliance, firms need to develop a written BCP addressing data backup and critical systems. They must also conduct annual reviews and provide customer disclosures about their BCPs. Meanwhile, the ISO standard requires a gap analysis and internal audits to evaluate the BCP's effectiveness.

📌 Summary of Key Points

  • 📅 FINRA Rule 4370 now mandates written BCPs for member firms.
  • 📊 ISO 22301:2025 emphasizes a risk-based approach to business continuity.
  • 💰 Compliance costs include personnel, technology, and consulting fees.
  • 🔄 Firms must conduct annual reviews and customer disclosures.
  • 🔍 Regular testing of BCPs is essential for effectiveness.

💡 Tips for Developing a Business Continuity Plan

Review your specific situation with your attorney to ensure compliance and effectiveness.

📝 Assess Your Risks

Identify potential risks that could disrupt your business. Understanding these risks can help you develop a plan tailored to your needs.

📅 Develop a Written Plan

Create a clear and concise written BCP. Ensure it includes data backup procedures and strategies for maintaining mission-critical systems.

🔄 Conduct Annual Reviews

Assign a senior manager to conduct annual reviews of your BCP. Regular evaluations help keep the plan relevant and effective.

📢 Communicate with Customers

Provide a summary of your BCP to customers at account opening. Also, consider posting it on your website for transparency.

🏆 Train Your Staff

Ensure that all employees are familiar with the BCP. Regular training sessions can improve response times during an emergency.

🏆 Business Continuity Services Ranked by User Reviews (2026)

This section lists services relevant to business continuity planning. These services help businesses create and manage their BCPs effectively. The order follows Trustpilot data checked in October 2026, and scores can fluctuate.

Remember that star ratings are just one measure of service quality, as unhappy customers tend to leave more reviews.

🥇 1. Rocket Lawyer

Rocket Lawyer has been rated 4.5. It is known for its legal document creation and legal advice services. Users appreciate the easy access to legal documents but some find the subscription model costly for infrequent use.

🥈 2. LegalShield

LegalShield holds a rating of 4.4. This service offers legal subscription services and access to legal advice. While many users find it helpful, some report challenges in reaching their assigned attorneys directly.

🥉 3. LegalZoom

LegalZoom averages 4.6. It is recognized for its business formation services and legal document preparation. Reviewers generally appreciate its efficiency, though some express concerns about delays in processing times.

4️⃣ Bizee

Bizee has a high rating of 4.8. It specializes in business formation services and registered agent services. While users report positive experiences, a few mention issues with customer support responsiveness.

🆓 Free Government and Nonprofit Help

The U.S. Small Business Administration (SBA) and FEMA provide resources for developing business continuity plans. The SBA offers a seven-step approach, while FEMA helps integrate planning with emergency response.

🔎 Comparing Business Continuity Services

  • 🔍 Check user reviews and ratings.
  • 📋 Look for services that focus on BCP development.
  • 🕒 Evaluate the responsiveness of customer support.
  • 💰 Consider subscription costs and flexibility.
  • 📑 Assess the availability of training resources.

❓ Frequently Asked Questions

❓ What is a Business Continuity Plan?

A Business Continuity Plan (BCP) is a document that outlines how a business will continue operating during and after an emergency. It includes strategies for protecting critical functions and data.

📅 How often should I review my BCP?

It is advisable to review your Business Continuity Plan annually. Regular reviews ensure that the plan remains effective and up-to-date with current risks and business operations.

💵 What are the costs associated with developing a BCP?

Costs can vary widely based on factors like firm size and complexity. Businesses should budget for personnel time, technology investments, and potential consulting fees.

🛠️ Are there resources available for small businesses?

Yes, the U.S. Small Business Administration (SBA) and FEMA provide guidance and tools for small businesses to develop effective continuity plans.

🏢 Who needs to comply with FINRA Rule 4370?

FINRA Rule 4370 applies to all FINRA member firms, regardless of their size or business model. Compliance is mandatory for these firms.

🔄 What is the purpose of ISO 22301:2025?

ISO 22301:2025 provides a framework for organizations to establish and improve their business continuity management systems. It emphasizes regular testing and validation of BCPs.

⚖️ Recent Court Cases Related to Business Continuity

Recent court rulings highlight the legal implications of failing to have a robust Business Continuity Plan. These cases demonstrate the importance of preparedness in mitigating risks and liabilities for organizations.

For more information, you can browse more rulings on the news page.

End of October 2026 Update





When you are starting your own business it is important to have a business plan set up to help direct the success of your business.  What is also important, that many small businesses don’t consider, is a Business Continuity Plan.  A Business Continuity Plan s set up for all contingency circumstances revolving around the success of your business.  Many problems can occur through the course of running your own business, both natural and man made.  If you are operating your own business it will only be a matter of time before your Business Continuity Plan will have to go into effect.  It may happen tomorrow or it may happen 20 years from now.  Many people believe there is no such thing as luck, only preparedness.  When disaster hits you should have a Business Continuity Plan set up to prevent your business from going under.

Probably one of the most famous Business Continuity Plans resulted in the formation of the Bank of America.  In 1904 Amadeo Giannini founded the Bank of Italy in San Francisco, California.  The goal of the bank was to make small loans to immigrants who were denied by other banks.  The Bank of Italy did not possess a fire proof safe and when the San Francisco earthquake occurred in 1906 Giannini was forced to return to the bank and take out all of the money before the fires reached the Bank of Italy.  All of the other banking institutions in San Francisco had fire proof safes.  Where the fireproof safes prevented the fire from consuming the contents of the safes they were incapable of being opened for days because they needed to cool down.   After the earthquake Gianinni was the only person in the city of San Francisco who was capable of making loans to individuals for repairs.  Because of his ability to finance the rebuilding of the city, Gianinni’s business thrived and eventually became, what is known today, as the Bank of America.

Where Gianinni’s Business Continuity Plan was not done on purpose this is a great example of how to prepare for disasters and the result of poor planning.  The other banking institutions did not think about the result of an overheated safe, and for that reason, they were damaged financially.

Using a Business Continuity Plan

When creating a Business Continuity Plan you should contemplate your business exposure to internal and external threats.  The first step in creating a Business Continuity Plan should be to assess your business essential aspects and gauge what are the most important and fundamental operations of your business.  These should be listed in order of priority and assess what backup, and contingency, arrangements should be made for the failure of each one.  

There are many issues that can arise through the course of a business that can cause your business to suffer loss or become insolvent.  These include: Theft, natural disasters, looting, damage to inventory and equipment, fire, changes in the financial market and many others. 

You should prepare for each situation appropriately; prioritize certain aspects of your business over others; do cost analysis comparing the costs of the business continuity plan versus the value of the asset to the company.  For example, the theft of inventory from the store may have less of an impact on your business than the destruction of your business due to fire.

Business continuity plans can consist of backup generators, security systems, backup machinery and equipment and insurance.  Each business will have a different business continuity plan and you should consult with a specialist in these matters to assess how you should fully prepare for any worse case scenario.