Business Continuity Plan Summary
Many of our clients have become used to seeing us at our offices in the Rainier Tower. However, the events of 9/11 have taught us that physical locations may not always be secure. We want you to know that in the event of a local or regional disruption, we have adopted a contingency plan that will enable us to continue to service your account. In the event that we can no longer continue operations at our existing offices, we have made arrangements to relocate our business to various sites in the Puget Sound area and elsewhere.
We have considered the nature of various disruption scenarios in our planning, and wish to apprise you of our expectations for the reestablishment of our services to you. While recovery-time objectives provide goals to plan for and test against, they are not hard and fast deadlines that must be met in every emergency situation, and various external factors surrounding a disruption, such as time of day, scope of disruption, and status of critical infrastructure particularly telecommunications can affect actual recovery times. Recovery in this sense refers to the restoration of our clearing and settlement activities after a wide-scale disruption, and resumption refers to our capacity to accept and process new transactions and payments after a wide-scale disruption.
If a disruption to our business, building, or business district occurs which results in our inability to process data at our offices for a continuous period of 24 hours or more, our goal is to recover within 1 business day, and to resume business activities within 2 business days, by switching our operations and staff to an alternate site in the greater Puget Sound area. If a larger scale disruption occurs (such as a city-wide or regional disruption), our goal is to recover within 3 business days, and to resume business activities within 1 week, by reestablishing operations at an alternate site out of state. In the event of a disruption in another region of the country that causes the complete shutdown of securities trading, clearance and settlement, or banking services, we will continue to remain in business at our existing offices and will await the resumption of service at the affected institutions.
Our business continuity plan is subject to modification, based on changing conditions here and in the securities industry. Updated summaries of our plan will be posted to this web site as necessary, and a written copy is available by mail at any time upon request. If you have any questions about this summary, please call us at (206) 624-6651.