Account Maintenance and Ongoing Review

What this video covers

• How often each office type must be inspected: annually for an Office of Supervisory Jurisdiction (OSJ) or supervisory branch office, every 3 years for a non-supervisory branch office, and on a regular periodic schedule for non-branch locations
• Who must conduct the inspection, why independence matters, and the 3-year written report retention rule
• Which four account categories require review for insider trading or manipulative conduct, including the breadth of covered accounts for associated persons
• What triggers a firm's duty to promptly open an internal investigation, and why waiting for the regulator is the wrong answer
• The distinction between Form U4 (Uniform Application for Securities Industry Registration) and Form U5 (Uniform Termination Notice), and what each form contains
• The 60-day deadline to review a prior Form U5 versus the 30-day deadline to verify a new Form U4 through reasonably available public records
• The critical difference between the annual compliance review, a broad business-level examination, and the annual compliance meeting for individual registered persons