NASD Rule 3010 mandates an annual inspection for each Office of Supervisory Jurisdiction (OSJ) and any branch office that supervises one or more non-branch locations. The rule further requires each broker/dealer to establish a schedule for the inspection at least every three years of its branch offices. The type and volume of business done at the branch and the number of registered representatives assigned to the branch may require inspections to be conducted more frequently than every three years.
By using a third party such as BDCA to conduct your OSJ and branch audits, you can benefit from objectivity, independence and experience. We can conduct a complete examination that will alert you to compliance violations and deficiencies before the regulators do. We will identify compliance and supervisory issues and recommend corrective action in a written report. We can use an audit module designed by you or we can provide an audit module to use that is customized to the type of business you do.
Please call us at (770) 263-6003 to find out how we can help you with branch office audit needs.