Broker-Dealer firms that are buying and selling securities for either themselves or their customers are regulated in the United States by both the SEC and FINRA. This oversight requires adherence to FINRA Rules 3210 and supervisory regulations related to FINRA Rules 3120 and 3130 and can extend to non-US firms that provide services to US investors. Firms also face an evolving regulatory landscape where compliance failures have brought severe penalties, lawsuits, and reputational damage.
ComplySci’s compliance software digitally transforms compliance with customized workflows which enable the supervision of investment accounts at other broker-dealers and financial institutions. We help compliance officers responsible for oversight track conflicts of interest and monitor activities related to personal trading, gifts and entertainment, political contributions, outside business activities, selling away and marketing materials.
Protect Your Reputation
Managing potential conflicts of interest is a critical piece of the consumer protection regulations covered in your firm’s written supervisory procedures. The penalties for brokerage firms that fail to comply with FINRA rules can range from monetary fines to, in the most extreme cases, being barred from the industry entirely. As a broker-dealer, you can leverage compliance infrastructure capabilities to automate your processes and streamline the management of personal trading, gifts & gratuities, pay-to-play, and other potential conflicts.
Regulators are increasingly leveraging technology to identify violations. However, point solutions for such monitoring often create data siloes that negatively impact the efficiency and effectiveness of your compliance program. A comprehensive solution uses data and software to ensure compliance teams are ahead of regulators and ready for examinations. ComplySci reduces the amount of time data gathering by as much as 60%, allowing you to respond to changing regulations with confidence and agility.
Shift your focus
Create Strategic Value
If you oversee the compliance program at your firm, you need compliance technology designed to help you meet your regulatory obligations and demonstrate your commitment to helping the firm focus on core business functions. The ComplySci platform not only enables better use of your time and resources, but ensures your compliance program effectively safeguards your firm from regulatory issues for today and tomorrow.