Compliance Outsourcing Solutions for Broker Dealer Firms

 

Outsourced Compliance SolutionsRND Resources outsourced compliance clients enjoy ready access to a complete range of regulatory compliance expertise and ongoing compliance monitoring. Programs are customized to fit a variety of broker-dealer business models and trade programs. Use compliance outsourcing to supplement staff; while adding expertise for a fraction of the cost and gaining access to a professional compliance consulting firm.  Outsource responsibilities handled by key compliance executives on an interim basis or permanently due to change in ownership, emergency crisis management, or while you’re searching for the next qualified in house chief compliance officer candidate.

Compliance Customized to Meet your Goals

Compliance Outsourcing is a scalable option for broker-dealers who wish to streamline their compliance operations and controlling costs. We’ll help design an outsourcing program that meets your needs from a full suite of professional Compliance Outsourcing services. Startup consultation services include;

  • Onsite Initial Orientation
  • Onsite Annual Regulatory Review Assessment
  • Weekly Compliance Checklist with Designated RND Technical Expert

General Compliance Outsourcing and Areas of Expertise

Written Supervisory Procedures

RND Resources has expertise developing, customizing, and amending policies, procedures, and manuals for WSP and; Anti-Money Laundering, Cyber-Security, Business Continuity, and more.  We’ll provide a thorough review and update of supervisory procedures, develop and implement changes, design effective supervisory procedure manuals and systems.

Annual OSJ & Branch Office Inspections

Conduct annual inspections and on-site OSJ (Office of Supervisory Jurisdiction) inspections for branch offices in accordance with FINRA rule 3110. Assess supervision and controls in place at branch locations; provide details regarding the review, findings and recommendations.

Annual Compliance Review – FINRA Rule 3120, 3130

FINR rule 3120 requires Chief Compliance Officers or other qualified principal to prepare an annual report detailing the firm’s supervisory controls, testing of the compliance program, gap analysis, and identify and significant exceptions or change to supervisory procedures.  RND Resources assists firms with conducting the required tasks to complete the 3120 requirement and provide the 3130 certified report.

Annual Compliance Meeting

  • Identify topics, prepare outline and agenda
  • Develop and distribute materials
  • Deliver meeting in conjunction with senior management
  • Record documentation for participation and content covered

Continuing Education Planning

  • Develop annual training plan based on assessment of business practices, compliance history, needs assessment, interviews with key personnel
  • Provide for comprehensive Firm Element CE, Continuing Education, including; preparing the course outline; identifying course training program objectives; scheduling training for all covered personnel; document and retain record requirements

Annual Representative Compliance Interviews

Prepare and distribute periodic representative questionnaires tailored to your firm.

Maintain Company Books & Records

Review and Update where required; bylaws, operating agreements, shareholder and member agreements, resolutions, meeting minutes

Advertising and Sales Literature Review

Review of New Clients

 Analyze on-boarding procedures, suitability standards, assessment of risks, liquidity, and operational risk.

Review of Business Operations

  • Examine critical business operations with senior management including;
    • Products, services and staffing
    • Systems, facilities, and equipment
  • Analyze operational capacity, recommend enhancements and distribute written review

Customer Complaint Filings and Regulatory Inquiries

Review notification of customer complaints and regulatory inquiries; provide support in arbitration and litigation matters

Business Continuity Plan

Review firms’ business continuity plan and make recommendations for improvement as applicable

 

Additional Broker Dealer Services

SRO Audit Preparation (Self-Regulatory Organization) & Mock Audits

Financial Reporting Outsourcing (FinOps Service – Series 27)

Expert Testimony and Remediation Service

Cyber-Security Plans

CPA and Accounting for Brokerage and Securities Firms

 

Request a confidential quote based on your needs. Phone (818) 657-0288 or email us

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“RND Resources have been our compliance consultants for last 14 years. They have not only supported our annual compliance needs but over the years they have opened up branch offices, updated our WSP, initiated CMA’s and guided us through 5 FINRA AUDITS. Dave Banerjee has been an invaluable asset to our firm and always responds in a timely manner regarding any compliance, legal or accounting issues that arise. They are invaluable resource that have largely contributed to the success of our company.”

Ashita J – December 30, 2011