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Broker-Dealer Compliance Programming Documents


Broker-dealers have numerous regulation requirements that they must comply with. For example, how should social networking diligence and supervisory oversight be handled? What are the current rules regarding cash versus noncash compensation and what can you pay or not pay for? How should suitability and due concerns be vetted prior to offering a new product?

At Jacko Law Group we provide broker-dealer compliance program legal counsel which address the questions and challenges facing today's broker-dealer entities.

The ongoing broker-dealer counsel and support services offered by our lawyers and professional staff include:

Formation Services

Our securities lawyers support broker-dealers from the very beginning of their practice. We assist in completing new membership applications, update corporate records (such as bylaws, partnership agreements, etc.), assist with registration requirements and compliance processes for registered representatives, and develop training programs.

Assessment And Compliance

Some clients wish to purchase an existing broker-dealer shell. Others wish to enhance their existing compliance program. Whatever the need, JLG can help by:

  • Providing due diligence checklists and interviewing potential sellers of broker-dealer shells
  • Formulating broker-dealer selling agreements
  • Performing mock FINRA examinations and broker-dealer risk assessments
  • Conducting branch office audits
  • Performing independent AML audits
  • Evaluating/enhancing current compliance program and training efforts, including Written Supervisory Procedures (WSPs)
  • Performing annual testing for certification of the broker-dealer's compliance supervisory program in accordance with FINRA regulations
  • Evaluation of current surveillance efforts including the review of surveillance reports and generation of "red flag" triggers
  • Response to regulatory inquiries and complaints
  • Development and testing of the business continuity plan, AML, and Regulation S-P programs [Link to testing of AML, BCP and Reg S-P programs]
  • Recommendations for and implementation of compliance technology solutions

Transactions And Broker-Dealer Practices

  • Assistance in completion of all ongoing registration forms, submission of supporting documentation and filing with FINRA and appropriate state offices
  • Authoring, review, and analysis of client documents (new account forms, privacy notices, prospectus receipts, 1035 exchange disclosures, quarterly performance reports, marketing disclosures, etc.)
  • Review and assessment of sales practices (use of finders, telemarketing, marketing tools, and sales desk responses)
  • Creation and review of broker-dealer selling agreements
  • Assessment of business continuity, disaster recovery, and succession plans
  • Due diligence of third-party service providers

For more information or to speak with a securities attorney, call our California law office directly at 619.298.2880 or contact us online.


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