Regulatory Intelligence Compliance Solutions Inc.
RICS Regulatory Change Management System™ :
- Branch Office Audit Tool
- AML Audit Tool

Regulatory Intelligence Compliance Solutions Inc.

Wall Street is experiencing unprecedented event s. It is currently an environment where laws, rules, and regulations are constantly changing. This makes it very difficult and time consuming for the firms to gather and integrate the vast amount of changes that are published by regulators and incorporate all these ongoing amendments into the firm's audit content. The Broker Dealer Branch Audit System provides visibility and analysis around the ever-evolving rules. With using this solution, firms will NOT have to devote compliance resources to this large cost and labor intensive process of continually updating their branch audit content, branch audit procedures and firm policies to the new rules and regulations. Regulatory Intelligence provides this service and MUCH MORE.

Audit Management, Workflow and
Actionable Content

Regulatory Intelligence's patented actionable workflow and content has revolutionized the audit industry, empowering audit departments of all sizes to spend less time documenting and reviewing and more time providing value-added services.

Regulatory Intelligence's Branch Audit Solution and Audit Solutions contains a web based survey tool with preconfigured and customizable broker surveys that integrate results directly into audit file. Regulatory Intelligence's Audit Solutions will guide the auditor through the planning, risk assessment, pre-audit survey and audit execution phases. When the audit is complete, RICS Audit Solution will automatically draft the final report and track any findings through to remediation.

Securities regulations, FINRA Rule 3110(c) require that broker-dealers perform branch office inspections every one to three years. These requirements are intended to help broker - dealers identify regulatory rule violations in addition to areas in need of improvement and to develop corrective action plans to ensure their firms are in compliance with the rules. In many cases, branch audits are done manually using desktop applications or paper-based processes. These time-consuming methods make it difficult to maintain consistency among audits, integrate the vast amount of information/rules published by regulators and assimilate the ever evolving rules to the actual audit review. As firms grow through mergers and acquisitions, the surviving Broker Dealers will need to get their arms around the branches they have acquired and get a quick understanding where they are at risk. What better tool for them to use than a Branch Audit which mirrors the current Regulatory Exams.

The Branch Audit tool simplifies the examination process by helping compliance personnel and the examination staff, maintain an efficient and consistent workflow in addition to compliance with FINRA Rule 3310(c).

Regulatory Intelligence's Branch Audit Solution (Content) MIRRORS a regulatory audit that would prepare broker dealers for an actual regulatory branch exam (audit). This product can disclose findings that regulators typically discover. This product can help the firm avoid large monetary fines and sanctions which is usually the result of many branch audits that are performed by regulators.

The Branch Audit aggregates information (Rules, Regulatory Notices, etc.) from various regulatory bodies and streamlines the content to appropriate audit chapters.

Among other enhancements this product also includes:

  • Web Based Registered Rep Questionnaires
  • Branch Manager Interview Checklists
  • Detailed Audit Steps tied to underlying SEC, FINRA and NYSE rules and regulations
  • Automatic Violation Report Drafting
  • Complete Violation Correction Tracking System

Ingenious Blueprint: Flexible To Your Needs

Since every customer has different needs, the Branch Office Compliance Solution platform has been designed to be highly configurable and adaptable, so each customer can choose to add content that best addresses any additional policies and procedures.

There is no other compliance solution product like this in the industry that contains this unique content. This product platform can be used to perform an actual audit in addition to training the Broker Dealer's Internal Branch Audit Group.

Audit Model is Multifunctional

This model can be used for any internal audit performed within the firm. New content would be added and it would facilitate the same needs; complying with the applicable regulatory rules for that specific department (research, syndicate, etc.) The workflow/content can assist auditors in performing required audits in addition to training existing auditors and new hires.

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Branch Office Audit.PDF Branch-Office-Audit.pdf Independent-Test-for-Bank-AML-Program.pdf