Gallery: Five Ways to Prep For Regulator Exams

Financial services firms know that when FINRA or the SEC decides to mount an examination, one of the top things they look at is a firm's communications - both the content and the written policy governing the messages, if there is one.

But there’s confusion about what this means: What types of messages need to be saved for a future potential audit? Do firms need a written policy? Will you need outside help? For advisors without dedicated compliance departments, it's a cause for anxiety.

Jimmy Douglas, director of alliances and industry relations at Smarsh, shares some basic steps to prepare for the regulators' communications review.

 

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