Broker-Dealer Compliance & Regulatory

Allia consultants have worked with numerous broker-dealers in improving and addressing supervisory controls across sales & trading, investment banking, research, and compliance. In addition to putting in a rigorous testing regime to help companies comply with regulatory expectations, we have experience reviewing and developing Written Supervisory Procedures and Compliance Policies and Procedure. Examples of work performed include:

  • Led the annual supervisory controls testing and reporting for various broker-dealers meeting FINRA rules 3130 and 3120 covering front, middle and back office areas in fixed income (governments, agencies, municipals, corporates, securities lending, repos), equities, investment banking, research, registration, education, and compliance surveillance areas.
  • Managed and performed compliance branch exams for a broker-dealer covering requirements related to sales and trading practices, employee trading and outside business activities, physical and information barrier, investment banking and research.
  • Identified and addressed significant information barriers breaches between investment banking and research.
  • Led and performed penny stock and anti-money laundering gap assessment for a broker-dealer, satisfying its regulatory obligations to identify and address operational and system controls.
  • Performed gap assessments of a global institutional securities business’ customer segregation (SEC Rule 15c3-3) requirements resulting in identifying multiple significant exceptions; areas included deficiency reporting, settlements, account maintenance, corporate actions, margin, prime brokerage operations and the relevant systems.

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