Written Supervisory Procedures (WSPs)

 A critical document which outlines your processes, policies, and procedures, forming the foundation of your compliance program’s framework. As a broker-dealer, not only is this document critical to ensuring every person on your team is “rowing in the same direction,” but it serves to mitigate risks associated with firm operations and ensure that all activities are conducted in compliance with relevant laws and regulations.

While you will initially develop and implement your WSPs upon your FINRA registration or when apply to expand your services, it is critical for firms to be regularly reviewing this document to ensure it is up to date, up to standards, and up to FINRA’s expectations.