Broker-dealers

Broker-dealers are registered with the SEC and are members of FINRA, thus subject to SEC and FINRA rules. Violations of either SEC or FINRA rules carry significant consequences, including censure, fines, and reputational damage.

COMPLY provides our customers with the service and support required to meet the exacting demands of the regulatory industry, while embodying the attention to detail you demand of yourself and your team. With 24/5 support and unparalleled in-house expertise, your program is our priority from the moment you begin the onboarding process. That’s our promise to you.

You can contact our Customer Support team here. 

As part of the COMPLY portfolio, ComplySci customers have access to leading continuing education programs, including the NRS IACCP courses and the RIA in a Box Investment Adviser Representative (IAR) program for those broker-dealers in state which have implemented the North American Securities Administration Association (NASAA) requirement.

When you work with a compliance technology firm that has established direct brokerage feeds, the broker carrying the account sends electronic data files to your firm’s compliance system directly through a secure connection. Data files include the holdings and transaction activity for all of your firm’s employees’ accounts held at that broker.

With integrated direct broker feeds from more than 300 brokerage firms and a robust data normalization process, COMPLY provides unrivaled information accuracy and dependability. These feeds: 

• Offer a scalable way to ensure compliance today and in the future
• Enable your firm to spot potential issues and react quickly with an added layer of verification
• Improve security and confidentiality
• Enable your firm to better comply with the spirit and letter of the law 
• Benefit employees 

COMPLY offers a Marketing Review Module which aids broker-dealers in complying with all requirements within the new rule.

Your firm's regulatory compliance program keeps your firm functional, ensuring you meet regulatory requirements and standards of conduct, mitigating financial, reputational, and regulatory consequences of a compliance violation. 

In fact, financial regulatory compliance software can help you:

• Automate manual, time-consuming activities, which eat away at your day and make it difficult to focus on big-picture priorities 
• Determine gaps in your compliance program, which could leave you open to risk 
• Report on all compliance activities, providing an audit trail for your firm and any regulatory body 
• Ensure your compliance program is functioning at the optimal level

COMPLY's onboarding team will be there with you every step of the way, working with you to create a plan which addresses your company’s unique needs. During onboarding the team will load data, configure the system to your use case and help set up integrations. The team will also provide guided instruction of broker feed outreach and assist with establishing broker feeds. Onboarding is concluded with supervisor training and assisting your organization go live on the platform.

Typical onboarding takes approximately 6-8 weeks. For larger clients onboarding is scoped to meet your company’s unique needs.

As most broker-dealers are regulated by the SEC and FINRA, they must create a compliance program, including policies and procedures tailored to its specific business activities and operations. 

Broker-dealers have a complex set of compliance rules and regulations to abide by. They must carefully prepare and follow their policies and procedures to address compliance issues, such as conflicts of interest, anti-money laundering and anti-fraud.

Registered representatives are required to follow broker-dealer’s policies and procedures. The ComplySci Platform makes it easier for the firm’s registered representatives to fulfill their compliance obligations and monitor registered representatives compliance with the policies and procedures.

Read more about growing compliance demands. 

ComplySci offers various compliance solutions to meet your firm’s needs. We offer the ComplySci Platform, a web-based compliance monitoring solution, which tracks employee activities against your firm’s rules and regulations. 

ComplySci's Political Contribution Verification solution also helps firms comply with pay-to-play regulations by monitoring political donations made by your firm's employees and their spouses to help identify unreported activity.

COMPLY customers have access to the registration and licensing solution, RepTracker. This solution aggregates and manages data about registered reps, including licenses, registrations, and renewals on a state-by-state level through a single, centralized database.

As part of the COMPLY portfolio of firms, customers have access to the ComplianceGuardian solution, which helps broker-dealers maintain their Written Supervisory Procedures manual. 

COMPLY customers have access to our RolloverAnalyzer solution, which supports compliance with the DOL's PTE 2020-02 exemption. 

Every dollar matters during a period of economic downturn. This makes prioritizing your spend essential to keeping your financial advisory firm at peak of performance, investing where appropriate for long-term success while not over-reaching and potentially overspending. 

• Work with the right compliance technology partner
• Prioritize your fiduciary education 
• Bring in outside help as needed
• Create a culture that prioritizes compliance 
• Lean into your *free* resources

Complete this form to schedule a full demo and see firsthand what our compliance solutions can do for you.