US firms should be allowed to make their own business continuity plans and should not be forced to adopt recommendations laid out by government agencies including the Securities and Exchange Commission (SEC) the Federal Reserve, according to two US securities associations.

The Bond Market Association, which represents securities firms in the bond markets, and the Securities Industry Association, an industry body representing 600 securities firms, said Thursday that they welcome guidelines set out by the government agencies, but that firms should be allowed to make their own disaster recovery plans.