Business Continuity Plan

As a leading broker/dealer, Vining Sparks is committed to continual business operations during a Significant Business Disruption (SBD).  In order to minimize the disruption period, Vining Sparks maintains a Business Continuity Plan (BCP), which provides guidelines necessary for business resumption according to Financial Industry Regulatory Authority (FINRA) Rule 4370. Below is a brief overview of Vining Sparks’ Business Continuity Plan.

BCP Summary

In the event of a SBD, Vining Sparks believes that the welfare of our employees and the protection of the firm’s records are vital to the recovery and resumption of business operations.  Therefore, the following areas are addressed in our BCP and we conduct periodic reviews and updates appropriately by taking significant steps that mitigates the impact of business disruptions. 

  • Data back-up and recovery
  • Mission critical systems
  • Financial and operational assessments
  • Alternate communication with customers, employees, and regulators
  • Alternate physical locations
  • Critical business constituents, banks, and 3rd-party impact
  • Regulatory reporting
  • Customer’s prompt access to funds and securities

The following summarizes specific disruption events with the firm’s corresponding intent for business continuation including testing.  Please note that we maintain a complete electronic copy of the BCP plan at our offsite data center and our private cloud storage.  

 

Building and Firm Disruption

Vining Sparks BCP plan concentrates on the recovery efforts of the 775 Ridge Lake, Memphis, Tennessee location, which is the firm’s core business center. Vining Sparks maintains an alternate site for core business operations, separate from its primary facility within the Memphis metropolitan area.  Our data centers are located in two separated geographical regions in order to mitigate equipment or data disruptions.  All Vining Sparks locations have full access to all of the stored data contained by each data center via redundant services. Therefore, employees can resume business operations from any sites or remote location with minimal disruption. If a SBD occurs at the 775 Ridge Lake location, Vining Sparks will move its core business operations to the alternate site. The main contact numbers (901) 766-3000 and 800-829-0321 will automatically reroute voice traffic to our alternate site for business resumption and our corporate website (www.viningsparks.com) will provide essential information during the SBD.  

If a SBD occurs at any of the firm’s branch locations, Vining Sparks employees will work from home through a secured portal or relocate to another of our locations. Branch business operations consist of the firm’s order completion division and does not engage in any of the firm’s mission critical operations.  If Vining Sparks experiences a single building disruption, due to physical damage, technology hindrances, or any inability to conduct normal business operations at any location, we will implement the BCP accordingly. 

Business-District, Citywide, or Regional Disruption

In the event of a SBD that affects the business district, city, or region, where any of Vining Sparks’ primary systems are located, Vining Sparks will leverage its national footprint to transfer its operations to alternate facilities. Redirection of Vining Sparks main telephone numbers will provide customers the ability of reaching the alternate site and the corporate website will provide essential information accordingly.

Testing

We perform periodic drills and SBD exercises, which demonstrates our efforts to mitigate disruptions. In addition, the Information Technology department conducts annual testing of its plan which includes DR testing of Vining Sparks production environment. 

For more information

If you have questions about our BCP, you may contact us at (901) 766-3000 or visit the firm’s website at www.viningsparks.com.  Please note that this document supersedes previous statements, regarding Vining Sparks’ BCP and responses are subject to modifications, depending on the severity of an event.