Branch Audits are required to be completed annually within 365 days of one another.  From your home page you can access compliance resources.  All brokers must complete the following prior to the audit (you can locate all information from your broker home page by clicking on Compliance Information)

  • Review the updated Business Disaster Recovery Plan, conduct the test and print one for file on site, email signed copy to Colleen.
  • NFA Self-Exam Questionnaire – (Located on your home page) A printed copy is required to be kept on file in each branch office.

–  Annually each branch office is required to complete the questionnaire, print and sign attestation (https://agriskconsulting.net/wp-content/uploads/2016/04/NFAExamQuestAppFeb2016.pdf).  Attestation is required to be kept on file at home office and branch office for 5 years.

–  Items within the most current self-exam checklist need to be kept compliant always.

  • ADMIS compliance manual – (located on your home page) A current copy of the ADMIS Manual must be kept on file at each branch location at all times. The Annual Audit will be conducted based on the Audit Program located in the ADMIS manual.

–  Review ADMIS Branch Office Audit Program (page 72 of Compliance Manual) and bring all lacking items into compliance.  The Branch manager is required to make sure compliance of their branch is maintained at all times based on the most current ADMIS manual.

During the audit – files will be reviewed/sampled (in hard copy format) as per the ADMIS Branch Office Audit Program and the questionnaire will be completed.  You can find the questionnaire beginning on page 72 of the ADMIS Compliance Manual.

  • Promotional Material File
  • Customer Account Files
  • Discretionary Account Files
  • Sample order ticket & electronic trade logs
  • Bunched order tickets & electronic trade logs if applicable
  • Error account statement & records/order tickets
  • Acknowledgement that no customer funds are received at the branch office
  • AML File
  • Customer Complaint File
  • Branch office file (5 years)
    • Compliance manual
    • Daily Equity Runs archive

 

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