Risk Management Services

Compliance and Risk Management Review Services.

 

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Current News:

January 1, 2017

FINRA District 6 Committee: Melinda ("Mimi") LeGaye has been appointed as a small firm representative on FINRA's District 6 Committee.

 

 

Recent Events:

 

 

Identify Deficiencies for Follow-Up
Compliance and Risk Management Reviews are an important component of a firm’s compliance and supervisory program. A FINRA initiated broker/dealer audit can be arduous, troublesome and nerve-wracking. MGL’s extensive experience providing on-site Compliance and Risk Management Reviews of broker/dealers will provide you with an understanding of the process and help identify any regulatory deficiencies which may exist in your organization. MGL can help you assess your firm’s overall compliance systems and programs, in order to help you minimize your organization’s regulatory risk.

MGL’s Compliance and Risk Management Reviews will include, but not be limited to:

  • A review of your firm’s registration records for the firm and its agents as compared to their client base and or sales activities
  • Comprehensive interview with the key management, operational and sales personnel
  • Back Testing of your organization’s Compliance and Supervisory Procedures
  • Review of your firm’s Product Vetting and Due Diligence Process
  • Trading and Sales Practice Reviews
  • Email Reviews
  • Outside Business Activity Reviews
  • Private Securities Account Reviews
  • Sales Literature, Advertising and Web Site Review
  • Financial/Regulatory Reporting (FOCUS: Net Capital: 3070 filings)
  • Books and Records
  • Soft-Dollar Compliance
  • Licensing and Registration verification
  • Supervision/Supervisory Structure
  • Privacy Policies (Regulation SP)
  • Anti-Money Laundering
  • Customer Account Review
  • Business Continuity Plans
  • Written Supervisory Procedures
  • Membership Agreements
  • Firm Contact Questionnaires
  • Review findings and recommend corrective actions
  • Confidential written report detailing audit findings

 

Our Audits are designed to be more than just an Inspection!
At MGL, we believe a compliance audit should be more than just an inspection process. We believe it should also identify potential areas of risk for Senior Management and be an educational process for your firm’s staff members. Therefore, where a deficiency has been detected, our professionals will work with your staff during the audit to address the
potential risk to the firm and to educate your staff on the relevant rules which govern those aspects of your firm’s business.