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Rajib Chanda Quoted in Ignites Regarding SEC’s Proposed Business Continuity Rule
06.30.16
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Corporate Partner Rajib Chanda was quoted in Ignites, a Financial Times news service, in connection with a rule recently proposed by the Securities and Exchange Commission. The rule would require asset managers to include specific elements in their business continuity plans in order for the SEC to better assess firms’ preparedness for major disruptions to business. The article, “Biz Continuity Rule Would Give SEC Enforcement ‘Bigger Hammer,’” discusses some potential implications of the rule. Rajib identifies a troubling aspect of the proposal – the requirement to have a written transition plan akin to living wills for banks – and notes that it “requir[es] people to engage in a counter-factual analysis: What would happen if this thing that never happens happens?”