WHAT WE PROVIDE ANNUALLY
iComply offers expert compliance consulting services. We deliver results that matter through ongoing support, assistance during regulatory examinations, testing, and financial and accounting services. iComply performs independent tests of firms’ anti-money laundering compliance programs and internal supervisory controls. Our services support compliance with SEC, FINRA, MSRB, NFA, SRO and state securities laws.
Anti-Money Laundering Testing +
Annually or bi-annually broker-dealers must undergo an independent test of their anti-money laundering compliance program (AMLCP), as pursuant to the Bank Secrecy Act and its implementing regulations. FINRA Rule 3310, USA PATRIOT Act, MSRB Final Rule G-41 and 31 CFR Chapter X Part 1023 (AML Rules) are aids to detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation. iComply will review the roles, responsibilities and resources of the firm; acceptance and management of client relationships; and money laundering prevention measures.
Supervisory Controls Testing +
Annually broker-dealers must conduct a review of its supervisory controls as pursuant to FINRA Rule 3120. iComply assist the Chief Compliance Officer or other designated principal(s) to conduct a review of the system of supervisory controls and prepare a summary of the test results to be presented to the Chief Executive Officer, pursuant to FINRA Rule 3130. The draft of the certification will denote the condition of the controls. The review will include an analysis of the business activities and internal controls; an assessment of the personnel assigned to oversee and implement controls and their effectiveness; and assist in providing comprehensive amendments to the written supervisory procedures to mitigate the firm’s risk.
Annual Review +
In accordance with SEA Rule 206(4)-7, a review to assess the reasonableness of the policies and procedures must be conducted annually. This review will consider new registered investment adviser compliance matters, changes in business activities of the firm or its affiliates, and changes to the Advisers Act or other applicable regulation.
Annual Compliance Meeting +
iComply will develop the agenda and training material that are applicable to your firm’s business risks. We will also assist with the delivery and documentation of the meeting. iComply will also participate as a panelist at your annual meeting.
Firm Element Continuing Education +
iComply will assist your firm determine relevant regulatory topics to implement within your training program and craft a needs analysis tailored specifically to your firm.
Branch Inspection +
We will conduct branch office inspections, annually for an Office of Supervisory Jurisdiction (OSJ) or every three years for a non-OSJ, to assess the supervision and controls in place at the designated office locations.
Training +
Compliance staff will be provided specialized training to ensure that regulatory needs are being met. Areas for training include anti-money laundering, customer grievance detection, internal communication and correspondence, new product or rule implementation and supervision of firm personnel.