Gifts and Entertainment Tracking
Track, report and manage your firm’s gifts, entertainment, non-cash compensation and political contributions including “Pay-to-Play”
For busy broker-dealer, investment adviser or financial service firms, implementing an efficient system for managing requests for review of potential conflicts of interest, code of ethics or other policies can seem overwhelming. In order to become and remain compliant, your firm must track all requests and monitor employees to make sure that they are following the correct policies and procedures covering Gifts and Gratuities, Business Entertainment, Non-Cash Compensation and Political Contributions.
The NRS Solution
The ComplianceMAX Gifts and Entertainment Tracking Module enables your firm to record and track gifts and gratuities, business entertainment, non-cash compensation and political contributions. With ComplianceMAX, your Gifts and Entertainment Management program will yield faster turnarounds, efficient issue tracking and fail-safe compliance processes.
Registered reps and investment advisers canenter material information for any of the following categories:
- Gifts and Gratuities
- Business Entertainment
- Non-Cash Compensation
- Political Contributions, “Pay-to-Play” & MSRBRule G-37
- Notify and remind the involved departments of outstanding tasks
By increasing efficiencies without adding staff, ComplianceMAX helps you improve the quality of supervision while lowering the cost of compliance.
Features and Benefits
- Track data by person, date or type of gift or contribution
- Notify compliance managers or any other system user when gifts or contributions are given or received
- Using the ComplianceMAX 360 degree workflow, your firm establishes a bridge between the compliance department and registered representatives to facilitate delivery, review and tracking of all gifting activity in a timely, organized manner
- Reporting capabilities increase your ability to track all requests and monitor employees
- Ensure that correct policies and procedures are being followed
- Flag specific transactions that violate regulatory monetary thresholds to focus the reviewer’s attention
This will help ensure full rep disclosure, including gathering reporting certificates earned from certain third party educational events. Centralized recordkeeping of all non-cash compensation events and the ability to upload and attach supporting documentation, such as continuing education certificates of completion, allows for one central location to store all information pertaining to the event.
Use the cMAX PDF Converter and Image Viewer to upload and attach supporting documentation, such as receipts, to support and strengthen your recordkeeping of all gifts and entertainment activity.