Useful tips

What is a 3120 letter?

What is a 3120 letter?

FINRA Rule 3120 requires a firm to have a system of supervisory control policies and procedures (SCPs) that tests and verifies a firm’s supervisory procedures. Pursuant to Rule 3120, a firm must designate principal(s) to be responsible for establishing, maintaining and enforcing a firm’s SCPs.

What are WSPs?

As part of the application process, applicants are required to submit a completed WSP Checklist, together with a copy of their Written Supervisory Procedures (“WSPs”). The WSPs are a “living” document and should provide a road map for the supervisory personnel to follow when they conduct each review.

Is an OSJ a branch?

An OSJ branch must have at least one on-site supervisor who is a qualified and registered principal with the firm. The main office of each firm is always considered an OSJ and has supervisory jurisdiction and responsibility over all the firm’s non-OSJ branch offices.

What finra 3110?

FINRA Rule 3110 (Supervision) requires firms to establish, maintain and enforce a system to supervise their activities and the activities of their associated persons that is reasonably designed to achieve compliance with federal securities laws and regulations, as well as FINRA rules.

What is a Rule 407 letter?

Definition: The Rule 407 letter is a conduct regulation pertaining to how and when a member of the Financial Industry Regulatory Authority (FINRA) is allowed to hold investments in a personal account.

What is a Rule 3210 letter?

Rule 3210 governs accounts opened by members at firms other than where they work. All employees must declare their intent and obtain their employers’ consent if they wish to open or maintain an investment account at any other financial institution.

What is the 2010 rule?

FINRA Rule 2010 is perhaps the single most important securities industry regulation. The rule requires that all industry members conduct business with high standards of commercial honor and that they maintain just and equitable principles of trade. The language used in this provision is intentionally broad.

Who owns WSP engineering?

In 2012 GENIVAR acquired WSP Group PLC, a multidisciplinary consultancy based in London, UK, creating a professional services firm with 15,000 employees working in 300 offices worldwide. In January 2014, the company reorganized as WSP Global Inc. and adopted WSP as its brand.

What does an OSJ do?

An Office of Supervisory Jurisdiction (OSJ) is an office identified by the broker dealer as having supervisory responsibilities for agents and branch offices within its region. The OSJ has final approval of new accounts, and retail communication, The OSJ may also make markets or structures offerings.

How far back does finra check go?

10 years
A BrokerCheck report for a broker whose registration with FINRA or a national securities exchange terminated more than 10 years ago generally contains: A report summary that provides a brief overview of the broker and his or her credentials.

Who does finra Rule 3210 apply to?

The purpose of Rule 3210 is to govern accounts opened or established by advisors and brokers at firms other than the member firm where they are employed or registered. Accounts that financial advisors and brokers have with their employers are easily monitored.

Who Does Rule 407 apply to?

Rule 407 Transactions — Employees of Member Organizations and the Exchange |

Is the NASD Rule 3010 still in effect?

NASD Rule 3010 has been superseded by FINRA Rules 3110 and 3170. Please consult the appropriate FINRA Rules.

What do I need to know about CFR § 242.301?

(B) Repurchase and reverse repurchase agreements solely involving securities included within paragraph (a) (4) (ii) (A) of this section; (C) Any put, call, straddle, option, or privilege on a government security, other than a put, call, straddle, option, or privilege that:

When to file an exemption from rule 9600?

A member seeking an exemption must file a written application pursuant to the Rule 9600 Series within 30 days after receiving notice from NASD or obtaining actual knowledge that it meets one of the criteria in paragraph (b) (2) (H).