Business Continuity Plan
Cowen Execution Services LLC (Cowen) registered broker-dealers and/or (“Affiliates” or the “Firm”), including, Cowen Execution Solutions LLC (member NYSE/FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); and Cowen Execution Services Limited, a U.K. registered broker-dealer, authorised and regulated by the Financial Conduct Authority, have developed Business Continuity Plans (“BCP”) on how they will respond to events that significantly disrupt that Firm’s business. This BCP Disclosure provides summary detail on risk mitigation strategy in the event of interruption(s) to daily business operations. The plans are designed to support all duties and responsibilities to customers in the event of a major disruption. The BCPs are intended to comply with obligations pursuant to regulatory rules and requirements as set forth by each business’s respective regulatory agency.
Contacting Us – If after a significant business disruption (“SBD”) you are unable to contact us as you usually do, please contact 212-468-7500 or 800-828-5454. For Cowen Executions Services Limited, please contact +44 20-7070-0140. Your call will be directed accordingly.
Each Affiliate’s BCP addresses, among other things: business description; data backup and recovery; all mission critical systems’ financial and operational assessments; alternative communications with customers, employees and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring customers prompt access to their funds and securities if the firm is unable to continue our business.
Each Affiliate’s primary concern is to ensure that the applications and information that drive critical business processes are available whenever they are needed. In most cases, each Affiliate business has a back-up Disaster Recovery Data Center(s) which house Firm infrastructure and communications that will enable the firm to continue to provide services during emergency situations.
Depending on the severity of the disruption (building, business district, the city, or whole region), the Firm will transfer their operations to one of its unaffected Disaster Recovery sites, which may be one’s primary residence, to resume business as soon as possible. Recovery times will range from instantaneous to approximately four hours. For some business functions, next-day recovery is projected.
While each affiliated business has taken significant steps to develop and implement a sound business recovery plan, the firm acknowledges that no recovery plan is perfect. The unpredictable nature of a disaster precludes absolute preparedness for any plan. However, the firm believes that planning for such events is robust and consistent with many of the best practices established within the industry. The plans are reviewed annually and updated as necessary. Any material changes to the above information will be available on the firm’s website, www.cowen.com.