Annual Compliance Review

If you haven’t completed or scheduled your annual compliance review, as required by Rule 206(4)-7, for 2015, time to do so.  Before you know it December will be here and you may not get a chance to do a thorough review.

Get it on your calendar now.  Take the time to read your entire Compliance Manual (aka Policies and Procedures or Written Supervisory Procedures).  Are you doing what it says you are doing?  If you have a compliance consultant assisting you, especially with new policies, be sure to read those changes.  You don’t want to find out during an exam there is a task or requirement that you haven’t done.

Also, cross reference your Compliance Manual with your ADV, Part 1 and 2A/B, and your client agreements.  Confirm that they are all consistent.

This is a good task to do outside of the office where you won’t be disturbed.

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