The Securities and Exchange Commission (SEC) has joined the Commodity Futures Trading Commission (CFTC) and the Financial Industry Regulatory Authority (FINRA) in issuing a staff advisory on business continuity and disaster recovery planning. The advisory follows a joint review by regulators in the aftermath of Hurricane Sandy, which caused widespread damage to Northeastern states and closed U.S. equity and options markets for two days in October 2012. The regulators issued the advisory to encourage firms to review their business continuity plans so as to improve responses to and reduce recovery time after significant large-scale events. Some of their recommendations included proper preparation for widespread disruption, planning for alternative locations and effective communication plans.