RegAlert2004-03-19
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SEC Staff Legal Bulletin: SLB 17 - Remote Office Supervision
The Division of Market Regulation reminds broker-dealers that small, remote offices require vigilant supervision to prevent and detect securities law violations. The bulletin outlines supervisory tools characteristic of good procedures, including the use of unannounced onsite inspections, centralized technology monitoring, and the designation of clear supervisory responsibilities. It suggests specific measures such as reviewing NASD Forms U-4 and U-5 during hiring, monitoring outside business activities, and implementing customer awareness procedures like confirming new account information within 30 days. These recommendations are intended to assist firms in crafting effective supervisory systems but do not constitute a safe harbor or replace existing obligations under SRO rules or federal securities laws.
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July 15, 2021
Remote Office Supervision
Action: Publication of Division of Market Regulation Staff Legal Bulletin.
Date: March 19,2004.
Summary: This staff legal bulletin (bulletin) sets forth the views of the Division of Market Regulation (Division), reminding broker-dealers that small, remote offices require vigilant supervision. The bulletin describes certain supervisory tools that, based on Commission staff examinations and recent Commission enforcement cases, are characteristic of good supervisory procedures, including the use of unannounced onsite inspections.
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Lineage: In force
Source: Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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