Regulatory Reporting

Regulatory Reporting

Objective

Mitigate regulatory findings from routine Financial Industry Regulatory Authority (FINRA) examinations.

Background Opportunity

Founded in January, 2007, Client is an independent FINRA broker/dealer and registered investment advisor based in Oakland, California, with 52 branch offices around the U.S. The firm offers investment advisory, brokerage, insurance, and an array of financial planning and risk management services.

Challenges

During a routine examination of the firm by FINRA, significant regulatory findings were uncovered. The violations that were noted had to be mitigated and responded to in writing in relatively short order.

Results

Changed the overall relationship and dynamics between the firm and its primary regulator. Firm did not incur any fines or sanctions by FINRA based on examination findings.

Solutions

Responded to each regulatory finding on behalf of the firm. Overhauled firm’s compliance program working with senior management and firm staff. Provided advice to senior management and training to firm staff. Became trusted adviser to the firm and provided ongoing regulatory support.