RJ and Makay

If you’re a broker-dealer who wants to be ahead of the game in meeting compliance objectives when it comes to sales practice management, focus on automation.  That’s the message coming out in a new study titled “Broker-Dealer Sales Practices Oversight: Secrets of Their Success”, commissioned by Pershing’s Allbridge Solutions from Beacon Strategies, LLC. The study evaluated the different viewpoints of two groups. First, it examined how 70 BDs processed sales and compliance procedures and documentation.  Next, it looked at regulators and evaluated their responsibilities and the direction in which regulation is going.  The results of the study included best practices in the leading firms and ways in which BDs can move forward in getting more automated to better handle the regulatory environment. It also developed a list showing the “Top Five” challenges BDs face today in doing so, ranking the challenges by the percentage of firms that saw each one as most important: