What is the general guidance for addressing E-commerce in 2005 Business Plans and future business plans?
Many of you have asked for some additional guidance. We suggest you consider the following when drafting your business plan: Define the scope of your E-commerce initiatives/activities (please see the seven categories illustrated above). Prioritize your initiatives according to importance and risk as they pertain to your institution. For each initiative, address the intended objectives, business risks, security issues, relevant markets, and legal compliance, as identified in FCA regulation Section 609.935. An effective business plan will include your written supporting analysis. The level of detail should hinge on the materiality of the initiative and the complexity of your institution’s E-commerce initiatives. If your institution is engaged in online transactions, which are more material by nature, your business plan would be expected to be more complex due to the greater E-commerce importance and greater risk. FCA examiners will look for a more detailed analysis of your intended objec
