WHAT WE PROVIDE ANNUALLY

Annually or bi-annually broker-dealers must undergo an independent test of their anti-money laundering compliance program (AMLCP), as pursuant to the Bank Secrecy Act and its implementing regulations. FINRA Rule 3310, USA PATRIOT Act, MSRB Final Rule G-41 and 31 CFR Chapter X Part 1023 (AML Rules) are aids to detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation. iComply will review the roles, responsibilities and resources of the firm; acceptance and management of client relationships; and money laundering prevention measures.

Annually broker-dealers must conduct a review of its supervisory controls as pursuant to FINRA Rule 3120. iComply assist the Chief Compliance Officer or other designated principal(s) to conduct a review of the system of supervisory controls and prepare a summary of the test results to be presented to the Chief Executive Officer, pursuant to FINRA Rule 3130. The draft of the certification will denote the condition of the controls. The review will include an analysis of the business activities and internal controls; an assessment of the personnel assigned to oversee and implement controls and their effectiveness; and assist in providing comprehensive amendments to the written supervisory procedures to mitigate the firm’s risk.

In preparation for your next regulatory examination, iComply will conduct a targeted review of specified business areas and provide recommendations to enhance your compliance program.

In accordance with SEA Rule 206(4)-7, a review to assess the reasonableness of the policies and procedures must be conducted annually. This review will consider new registered investment adviser compliance matters, changes in business activities of the firm or its affiliates, and changes to the Advisers Act or other applicable regulation.

Procedures Manuals are the most integral part of a firm’s compliance program. iComply will assist your firm develop, amend, and implement a supervisory system that is tailored specifically to your business structure and compliance needs including the Written Supervisory Procedures, Anti-Money Laundering Procedures, Business Continuity Plan and Continuing Education Program with Needs Analysis.

iComply will develop the agenda and training material that are applicable to your firm’s business risks. We will also assist with the delivery and documentation of the meeting. iComply will also participate as a panelist at your annual meeting.

iComply will assist your firm determine relevant regulatory topics to implement within your training program and craft a needs analysis tailored specifically to your firm.

iComply will serve as your FINRA Firm Gateway Administrator within the Central Registration Depository (CRD) system or assist your administrator with the maintenance of form filings including the Forms BD, BR, U4 and U5; monitor continuing education regulatory requirements; submission of required MSRB filings; perform the FINRA Contact System annual review and assist with associated persons state registrations.

We craft intuitive forms to be completed by your firm’s associated persons to alert the compliance team of participation in, or subjection to a customer complaint; arbitration or litigation; disclosure or amendment to form filings; outside business activities; outside brokerage accounts; and private securities transactions. iComply will draft Form CRS which enhances investor protection to retail investors as prescribed by the SEC.

We will conduct branch office inspections, annually for an Office of Supervisory Jurisdiction (OSJ) or every three years for a non-OSJ, to assess the supervision and controls in place at the designated office locations.

Compliance staff will be provided specialized training to ensure that regulatory needs are being met. Areas for training include anti-money laundering, customer grievance detection, internal communication and correspondence, new product or rule implementation and supervision of firm personnel.

iComply will assist your firm with drafting a business continuity plan that will meet all regulatory requirements.

iComply will assist your firm develop risk assessments to serve as foundational tools to identify relevant risks of your firm’s business activities.

iComply will assist your firm become a new FINRA member or add to your most recent membership agreement. We will complete the membership application; act as liaison with the regulatory department; ensure the application meets Rule 1014 standards; and review the new membership agreement for accuracy and completeness.

iComply has experience with on-site examinations and will assist with preparation for and management of the entire examination process. We will assist with all responses to regulatory inquiries and ensure that they are accurate and complete.

iComply will be an integral part of your compliance team and assist your firm with both routine and complex issues. This support will be fully customizable and tailored to the specific need of your firm.