
By Buddy Doyle
Subscribe to our original industry insightsThe beginning of the year is often a time for getting organized; reviewing and updating your firm’s compliance calendar to include FINRA’s required annual supervisory controls testing and reporting should be on your to-do list. FINRA Rule 3120 requires broker-dealers to have in place a system of policies and procedures that annually test and verify firm supervisory controls procedures. Firms must also create or amend Written Supervisory Procedures identified as necessary by this testing.
A comprehensive review of your firm’s supervisory procedures, including the testing and verification of those procedures should include:
Ensuring your firm’s compliance program is robust and current with ever-evolving regulatory requirements is an important factor when it comes to protecting your firm’s business and reputation. Our consultants minimize surprises and will discuss the initial findings with you before issuing a final report. Should your firm need any improvements, Oyster can help you facilitate those changes through support staffing or by taking on the initiative entirely.
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