Broker-Dealer Branch Office Inspections: A Key Part to Supervision

Mar. 2012


Over the past year, FINRA has provided much guidance in the area of branch office inspections. Too often broker-dealers are relying on electronic or verbal affirmations from its remote offices and are not going onsite to determine whether the compliance program is being circumvented. Consequently, this month’s Risk Management Update will focus on new guidance from FINRA based on its February 2012 Webinar entitled “Branch Office Inspections,” which discussed common branch deficiencies and risk-based branch office inspection policies and procedures; Regulatory Notice 11-54 entitled “Branch Office Inspections,” which was jointly issued by FINRA and the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) in November 2011”1; and best practices to consider for your organization.


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