FINRA requires each broker/dealer to complete an annual review of its supervisory controls pursuant to Rule 3012. This annual report must cover all business and operational areas and ensure that the firm's Written Supervisory Procedures ("WSPs") are compliant with all rules and regulations.
MCD Consulting will conduct a thorough annual review and prepare a report after the on-site work has been completed.
MCD will first conduct a gap analysis of your firm's policies and procedures to ensure all required rules are covered in the WSPs. Next, extensive testing is performed to identify internal controls weaknesses and ensure that the WSPs are effective. Testing by MCD will cover areas which pose the greatest risk to your firm as well as the following required areas:
Contact MCD Consulting to discuss your needs today at 815-295-3994 or email@example.com
- Safeguading of customer funds and securities
- Maintaining required books and records
- Supervision of customer accounts serviced by producing managers
- Transmittal of funds between customers and brokers
- Transmittal of funds and securities between customers and third parties
- Customer change of address
- Customer change of investment objective
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