Regulators Are Stepping Up Their Branch Office Reviews: Will Your Branch Office Audit Program Meet the Challenge?
3:00 PM – 4:15 PM
Thursday, October 11
David Greene, Kendrick Dunn
This session will review the specifics of FINRA Regulatory Notice 11-54 “FINRA and the SEC Issue Joint Guidance on Effective Policies and Procedures for Broker-Dealer Branch Inspections” and provide insights as to developing an appropriate, in-depth supervisory program for branch offices inspections. This session will discuss relevant factors for ensuring a successful branch office audit program.
- What circumstance(s) call for more frequent reviews than required?
- What home office activities should be in effect, on an on-going basis, to supplement, and prepare for on-site visits?
- Ensuring that branch office review procedures call for appropriate inspection points.
- Guidance on what represents a good audit report in terms of an appropriate narrative format which sufficiently details the review.
- Are there appropriate follow-up procedures in effect to address all findings?
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