Compliance Solution for Broker Dealers

Your Challenges

  • The manual, time consuming activities in my broker dealer compliance program are costing my firm a lot of money. What can I do to reduce these costs?
  • The costs of maintaining a brokerage compliance program are increasing significantly as the demands of the regulations increase. What can I do to control this increase or perhaps reduce the overall costs?
  • Am I in a position with my current approach to respond to all of the broker dealer regulators' demands at next audit given the increased demand for burden of proof of completing broker dealer compliance activities?
  • Is our compliance program flexible enough to adapt to a changing business model, changing broker dealer regulatory environment, and changing personnel within the business?
  • Is the company fostering a culture of brokerage compliance today?
  • How can I, as a principal of the business, spend less time and effort on compliance activities that could be automated while maintaining the same oversight?
  • How can we ensure we are practicing effective oversight of the broker dealer compliance program with the multiple data capture methods, approaches, and IT solutions that we use today within the compliance program?
  • Are we sure that all required broker dealer compliance activities are being completed?
  • How can I free up key broker dealer compliance staff from spending time compiling compliance data rather than analyzing the results to minimize the risks to the firm?

Our Compliance Solution

MyComplianceOffice Brokerage Compliance Operations Management System (COMS) is specifically designed to allow Broker Dealer firms to easily build and automate their B/Dcompliance program.

How does it work?

MyComplianceOffice combines the power and flexibility of Approvals & Affirmations, Questionnaires and Attestations, Task Management & Workflow, Personal Trading, Document Management, and Case Management into a single, integrated, “easy to use” Broker Dealer Compliance solution. A Dashboard view of the entire broker deler compliance program provides quick access to critical data. The combination of these features enables:

  • Automate the many various activities of the broker dealer compliance program that are currently manual.
  • Capture all information associated with the broker dealer compliance activities (documents, comments, etc.).
  • Create a single system of record for all broker dealer compliance information for audit response.
  • Retrieve data easily for testing or audit purposes.
  • Streamline approval processes within thebroker dealer for outgoing correspondence, including advertising and sales literature requests.

Features

  • Provide a single, comprehensive management tool to execute the firm’s broker dealer compliance program.
  • Collect employee acknowledgements and disclosures easily and record their attestations.
  • Monitor gifts, donations and outside interests of appropriate personnel.
  • Automate the review of employee personal trading accounts.
  • Organize employee files with "new hire" and "termination" checklists.
  • Track ongoing activities such as compliance reviews, attestations and contract renewals.
  • Establish branch audit programs and record lists and oversee progress centrally.
  • Enable testing processes of the firm’s policies and procedures.
  • Document the firm’s supervisory control procedures (FINRA 3012 and 3013) throughout the year, making it easier to complete annual reporting and certification requirements.
  • Draft, distribute, and maintain version control over policies and procedures, e.g. Written Supervisory Procedures (WSPs) and other required manuals.
  • Circulate the broker dealers Anti-Money Laundering policies, as well as facilitate the reporting of suspicious activity (SARs).
  • Set reminders for FOCUS reports filings and Fidelity Bond renewals.
  • Ensure FINRA registration renewals and other important broker dealer activities are tracked though to completion.
  • Provide offsite location for key disaster recovery documents such as Business Continuity Plan (BCP) and ready access to emergency contact lists.

Long Term Compliance Platform

The flexibility of the broker dealer compliance tools in our solution allows you to modify policies and procedures as regulations change and as your business model evolves into new markets. Storing all data and documents in one solution ensures your firm is ready for audits, irrespective of changing personnel.

Benefits

  • Provides significant savings on costs of a firms' broker dealer compliance program through automation.
  • The Broker Dealer Software enables easier and more effective oversight and monitoring by broker dealer compliance personnel.
  • Ensures compliance with the policies and procedures that are appropriate for the firm.
  • Enhances the culture of compliance within the firm.
  • Reduces risk of broker dealer compliance issues with automation and easier oversight.
  • Adapts to changing FINRA and other boker dealer compliance requirements.
  • Provides peace of mind that firm has a long-term, flexible solution for maintaining the compliance program.

View details on our Product Features page > >

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