Branch Exams and Program Design

Broker-dealers are required to complete annual branch exams under FINRA Rule 3010. Oyster provides both outsourcing and program development to improve your control environment. Oyster will review each Branch Exam program to ensure you are addressing risk while complying with relevant rules and regulations.  Oyster’s approach will help your firm achieve best practices. Oyster’s review is risk-based and will be aligned with your lines of business and product mix. The review will include:

  • The previous year’s report and response
  • Employee records and Outside Business Activities
  • Advertising and Correspondence (Email and Social Media)
  • Trade activity and blotters supervisory review procedures
  • Space sharing arrangements
  • Supervisory controls and Written Supervisory Procedures
  • Operations Procedures, including handling of funds and securities
  • Office Security procedures
  • Signage
  • Procedures regarding client documents
  • Conflicts of Interest/Advisory
  • Customer complaints
  • High-risk products
  • Communications with the public/Advertising
  • Letters of authorization
  • Address changes
  • Trade corrections
  • Annuity exchange activity
  • Mutual fund pricing
  • Books and Records maintenance

The Oyster Difference

Oyster knows that each compliance program should be unique, matching your business practices. Our experts have years of industry experience and can quickly prioritize the assessment with a thoughtful process. Oyster will provide your firm with a written report that addresses areas needing improvement to close gaps and achieve best practices. We will discuss the initial findings and recommendations with you before issuing a final report to ensure accuracy and to offer practical solutions to create an efficient compliance program. Oyster’s team of experienced industry practitioners can help you facilitate those changes through support staffing or by taking on the initiative entirely.