HFM Compliance Quotes Richard Rabin on Business Continuity Plans for Hedge Funds

HFM Compliance has quoted Akin Gump labor and employment partner Richard Rabin in the article “Hedge fund BCPs put to the pandemic test.” The article reports on how hedge funds are implementing their business continuity plans (BCPs) to ensure that operations can continue in line with regulatory obligations amid the coronavirus outbreak.

In the United States, the article notes, BCPs are required of all SEC-registered investment advisers under Section 206(4)7 of the Advisers Act, the Compliance Rule. According to Rabin, though, “Most firms can’t just flip a switch and turn remote work into a reality.”

“The first step,” he said, “is determining whether employees have the necessary equipment to work remotely. You want to know that they can access the files and servers they need.”