The US Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) have announced a new initiative to further promote strong compliance practices at broker-dealer firms for the protection of investors.
Similar to the SEC's ongoing CCOutreach Program for investment advisers and investment company chief compliance officers, the CCOutreach BD program will help broker-dealer chief compliance officers (CCOs) ensure effective communication about compliance risks, maintain effective compliance controls, and foster strong compliance programs within their firms.
"This is an opportunity for broker-dealers and their regulators to learn from one another about how best to ensure compliance with the securities laws," explained SEC Chairman Christopher Cox.
FINRA CEO Mary L. Schapiro added:
"Through its education and training programs, FINRA devotes considerable resources to compliance education — not just for compliance officers, but for broker-dealers' frontline staff as well. This new CCOutreach program will provide a unique opportunity for compliance chiefs across the country to discuss priority topics directly with regulators — and they can participate in shaping the agenda for those discussions themselves."
The SEC's Office of Compliance Inspections and Examinations, in coordination with the Division of Market Regulation, will sponsor the CCOutreach BD program together with FINRA. The program will feature a National Seminar at SEC headquarters in Washington, DC, tentatively scheduled for March 2008, as well as regional compliance seminars across the country. These meetings will provide the opportunity for open discussions on effective compliance practices and timely compliance issues in ever-changing markets.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment