2012 Continuing Education. Needs Analysis - Firm Compliance Survey

Transcription

1 MGL Consulting, LLC Insight & Direction 2012 Continuing Education Needs Analysis - Firm Compliance Survey Name of Firm Job Position Contact Contact Name FINRA Firm ID# Phone Number Instructions: In accordance with FINRA Conduct Rule 3010, the information requested in this survey will be utilized, together with the Individual Surveys being forwarded to your covered persons, to complete your firm's annual Needs Analysis and Continuing Education Training Plan. Therefore your cooperation is necessary. Please complete each section of this form and submit the information by clicking on the submit button found at the bottom of this page. Once all results are in MGL Consulting, LLC will provide you with an analysis of these survey results. Thank you in advance for your assistance with this process. We ask that you submit this form no later than May 15, Note: For purposes of continuing education plans, FINRA defines a covered person as: any person registered with a member who has direct contact with customers in the conduct of the member's securities sales, trading and investment banking activities, any person registered as an operations professional pursuant to Rule 1230(b)(6) or a research analyst pursuant to NASD Rule 1050, and to the immediate supervisors of such persons (collectively, "covered registered persons"). "Customer" shall mean any natural person and any organization, other than another broker or dealer, executing securities transactions with or through or receiving investment banking services from a member. General Information: Please identify the person responsible for monitoring your firm's compliance with FINRA's Continuing Education Rules: Registration Information: When did your firm become a member of FINRA? Please select the category which best describes your firm's business activities: Introducing Broker/Dealer ($5,000 net capital) Introducing Broker/Dealer ($100,000 net capital) Introducing Broker/Dealer ($50,000 net capital) Introducing Broker/Dealer ($250,000 net capital)

2 Limited Broker/Dealer -Mutual Funds/Variable Annuities - Subscription Basis ($5,000 net Capital) Limited Broker/Dealer -Private Placements / Investment Banking ($5,000 net Capital) Limited Broker/Dealer Wholesaler of Non-Traded REITs ($5,000 net Capital) Limited Broker/Dealer Mutual Funds/Variable Annuities We Order Basis ($25,000 net capital) Limited Broker/Dealer Referral Arrangements ($5,000 net capital) Limited Broker/Dealer M&A Advisory Services and Private Placements ($5,000 net capital) Demographic Information: How many branch offices does your firm have? (Do not include home office) How many non-branch locations does your firm have? Of the branch offices identified above, how many are classified as Offices of Supervisory Jurisdiction? Are any of these offices subject to Franchise Agreements? Yes No List the number of principals with the following years of securities industry experience. 0-2 Years 5-10 Years 2-5 Years 10+ Years List the number of registered representatives who are not principals with the following years of securities industry experience. 0-2 Years 5-10 Years 2-5 Years 10+ Years Securities Products: Which products do you sell or make available to the public (list all that apply)? Municipal bonds & notes 529 plans/securities Government securities (bills, notes, bonds) Government agency (FNMA, FHLMC, GNMA, etc.) Fixed income other than municipal and government Equities-listed Equities- OTCBB, non-otcbb, and non-listed, Mutual Funds -open ended Mutual Funds -close ended; ETFs; UITs Variable annuities Variable Life CDs Options DPP Private placements

3 Private placements other than DPPs REITS non-traded REITs -traded Research Other (describe ) Business Activities: Please identify each area of business in which your firm engages and the percentage of annual total revenues generated by such activities: Retail brokerage Institutional brokerage M&A Wholesaling REITs Wholesaling - lead placement agent for private placements Wholesaling - mutual funds Underwritings - firm commitment non-municipal Run the books Syndicate member or selling group member Underwritings - best efforts (non-municipal) Placement agent for registered offerings Placement agent for non-registered offerings Municipal Business Underwritings - Run the books Underwritings - Syndicate member or selling group member Financial Advisor 529 plans Consultant/other Request information on how funds and securities are handled (check all that apply): via application; checks are received and forwarded to the clearing firm; securities are received and forwarded to the clearing firm; checks and securities are sent by customers directly to the clearing firm; wholesaling and/or lead placement agent (the b/d does not receive customer funds or securities); funds are wired by the purchaser to the seller at closing (M&A) Customer Funds and Securities: How does your firm handle customer funds and securities? Check all that apply.

4 via application; checks are received and forwarded to the clearing firm; securities are received and forwarded to the clearing firm; checks and securities are sent by customers directly to the clearing firm; wholesaling and/or lead placement agent (the b/d does not receive customer funds or securities); funds are wired by the purchaser to the seller at closing (M&A) Regulatory Element: If any registered personnel sat for the regulatory element in the last year, were there any topics of weakness noted during the session? If yes, identify below. Yes (fill in areas of weakness below) No (no areas of weakness were noted) N/A (no personnel sat for the regulatory element in the previous year) Disciplinary History: Is your firm, or any registered principal thereof, the subject of an investigation which could result in a disciplinary proceeding by a regulatory body? Yes No (If yes, please briefly describe i.e. OATS/TRACE Reporting, failure to supervise, suitability, etc. below): Has your firm or a registered principal, now or within the last 10 years been the subject of a disciplinary proceeding by a regulatory body other than a minor rule violation? Yes No (If yes, please describe below): Has your firm been the subject of a customer complaint within the last 4 years? Yes No (If yes, please list how many and a brief description of the allegations i.e. suitability, misrepresentation, unauthorized trading, etc. below):

5 Within the last 4 years, was your firm named in an arbitration that was settled or awarded to the customer? Yes No (If yes, please list each instance by dollar amount below): Does your firm employ any individual who is subject to heightened supervision or has been statutorily disqualified and has been readmitted to the securities industry following an MC-400 hearing with FINRA? Yes No Educational Areas: Please identify all areas in which you feel your firm's covered persons would benefit from training. Products: Corporate Equities Corporate Debt Fixed Income and Institutional Trading Municipal Debt Options Index Options Section 529 Plans Mutual Funds Fixed Annuities Variable Annuities Direct Investments Asset Backed Debt U.S. Government Securities Insurance Products Wrap Accounts Financial Futures Penny Stocks Real Estate Investment Trusts Certificates of Deposit Private Placements Services: Asset Management Financial Planning Pension Plan Administration On-line Trading Day-Trading Payment for Order Flow Research Activities Institutional Trading Selling Group Participations Market Making Underwriting Money Management Investment Banking Estate Planning Discretionary Accounts Compliance Issues: Anti-Money Laundering Ethics Written Supervisory Procedures Branch Office Management Suitability Advanced Supervision Outside Business Activities Foreign Accounts Registered Representative Obligations

6 Customer Communications Advertising Supervision of Independent Contractors Branch Office Inspections Trace Reporting Handling Customer Complaints Arbitration and Mediation Social Networking Regulation SP (privacy rules) Financial Responsibility Rules Insider Trading Supervision of Research Activities Due Diligence Activities OATS Reporting International Business Activities Broker Accountability through the Enhanced Transparency Act of 2003 Other: Personal Development: Time Management Leadership Sexual Discrimination Practice Management Sales Management Sales Development Harassment Prevention Management Management Employee Relations Conflict Resolution Stress Management Training Mediums: Please tell us what type of training medium you would like to use to deliver your Firm Element Program in 2012: On-line Self-Study Training Web-based Seminars Classroom / Live Seminar Training Seminar Information: Please identify any seminars (sponsored by your firm) which your covered persons are scheduled to attend during 2012 (do not include your firm s Annual Compliance Meeting). Please note seminar length in hours: Date of Seminar #1 Sponsor of Seminar #1 Title of Seminar #1 Length of Seminar #1 Date of Seminar #2 Sponsor of Seminar #2 Title of Seminar #2 Length of Seminar #2 Date of Seminar #3 Sponsor of Seminar #3 Title of Seminar #3 Length of Seminar #3 Comments: In order to better serve your needs, the following space has been included for you to provide us with your comments.

7 Please Save this Document and Return it by Either or Fax Questions regarding this form may be directed to Danny LeGaye at MGL Consulting, LLC at or x 117. For more information regarding our services, please visit our Web site at MGL Consulting, LLC Egypt Lane, Suite E400 Magnolia, Texas Phone: Published and Copyright 2012 MGL Consulting, LLC all rights reserved and all of the releases provided are protected by copyright and other applicable laws, treaties and conventions. All reproductions, other than for an individual user s reference, are prohibited without prior written consent.