September 2023 Overview & Summary On Sept. 6, 2023, the Securities and Exchange Commission’s Division […]
As noted in the 2017 Regulatory and Examination Priorities Letter, FINRA will review firms’ supervisory procedures for hiring or retaining statutorily disqualified and recidivist brokers. FINRA will examine firms’ due diligence on these individuals, which will include determining whether, as part of the verification process, a firm or third-party service provider conducts a national search of reasonably available public records to verify the accuracy and completeness of the information contained in an applicant’s Form U4. FINRA will also continue to monitor for timely submission of disclosures required on Forms U4 and U5.
Efficient onboarding of new registered representatives is critical for broker-dealers. Yet many firms continue to rely on paper-based manual processes and redundant data entry, requiring constant intervention in the process and negatively impacting rep satisfaction. Join RegED and Compliance Risk Concepts, for an hour-long webinar offering insights into the ways that technology can enable firms to eliminate inefficiencies in the onboarding process.
Ann Robinson, Senior VP, Business Development RegED, Inc.
Mitch Avnet, Managing Partner Compliance Risk Concepts