Compliance

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10 Ways Broker-Dealers Can Avoid The Wrath Of Regulators

Here are 10 best practices from Broadridge.

Regulators are increasingly strict about holding broker-dealers accountable for any missteps caused by third party vendors and are ready to hand out hefty punishment to those who aren't vigilant enough about their outsourced activities.

A proposed FINRA rule 3190, which is expected to be adopted by June, states that a firm must maintain a supervisory system and written procedures for any functions performed by a third party that are designed to ensure compliance and must conduct ongoing due diligence to ensure the vendor is capable of performing the functions in a compliant manner.

Broadridge recently interviewed several broker-dealers regarding their compliance practices.

Read the rest of this article on Wall Street & Technology Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

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