Oversight of BD Reps Who Are Independently Registered as Investment Advisers
April 24, 2012
1:00 PM – 3:00 PM ET
FINRA has announced that it plans to substantially increase its broker-dealer branch office exams. In light of recent events, NASD Notices to Members 94-44 and 96-33, concerning broker-dealer oversight requirements of reps who have been approved to have an independently registered investment advisory firm, need to be “dusted off,” reviewed and understood. Allowing a rep to have his or her own independently registered investment advisory firm involves much more than simply adhering to FINRA Rule 3270 (“Outside Business Activities”).
This course will discuss both the pre-approval review requirements and the on-going supervisory oversight requirements.
After attending this course, attendees should be able to:
- Identify broker-dealer’s liabilities in failing to fully understand the IA services in which its reps are engaged
- Establish which supervisory oversight procedures the broker-dealer must have in effect
Designed to increase the professional competency of broker-dealer professionals with legal, compliance and management responsibilities, most specifically:
- Chief Compliance Officers
- Branch Office Managers
- Branch Office Review Personnel
Suggested Skill Level: Intermediate
Instructional Method: Group Internet-Based
Prerequisites for participation:
There are no pre-requisites for participation but attendees can benefit by reviewing NASD Notice to Members 94-44 and NASD Notice to Members 96-33.
Advance Preparation: None
Order this Desktop on Demand