Authorization, Registrations & Licensing

Manage Employee Authorizations, Registrations & Licensing with greater efficiency and visibility

Tracking authorization, registrations and licenses is an integral part of compliance programs and the penalties for falling behind on these activities are both real and enduring. Firms need a solution to manage the requirements associated with the flow of incoming and outgoing reps and changing financial products, and a way to monitor and verify broker-dealer credentials and Continuing Education (CE) status on an ongoing basis.

MCO's Authorizations, Registrations & Licensing (ARL) software provides firms with a cost efficient and effective solution to manage broker-dealer credential requirements and Continuing Education with greater efficiency and visibility:

• Track, submit and maintain registration data across reps, branches, and jurisdictions
• Ensure licensing and continuing education are up-to-date across the organization
• Stop manually managing the flow of data from authorizations, registrations and licensing
• Eliminate duplicate data entry to increase accuracy and efficiency
• Reduce incomplete or incorrect submissions – and subsequent resubmissions from rejected filings
• Encourage employee adoption and adherence to policies

Understand Your Authorizations, Registrations and Licensing Data

MCO’s ARL solution allows firms to manage licenses, registrations and renewals across locations and jurisdictions through a single, centralized platform. Data and functionality combine for one unified view, uncovering exceptions and issues via a simple and intuitive interface. Firms can easily manage the high volume of data associated with broker-dealer credential compliance while ensuring licenses and continuing education are up to date.

• Track licenses held and products being sold to ensure there are no discrepancies
• Easily manage different CE structures including exam-based, credit-based and hours-based CE and CPD (Continuing Professional Development)
• Create business rules to generate alerts, assignments and notifications
• Run advanced filters and queries to fill regulatory, internal audit and management requests
• Eliminate risk from having to maintaining multiple systems and data silos

Automation brings efficiency, accuracy and visibility to your compliance program while letting your team focus on the bigger picture and the bottom line. MCO’s ARL solution helps organizations meet regulatory obligations around broker-dealer credentials while allowing compliance to work better and faster.

Accessibility Across the Organization

Compliance is not the only department that needs information about broker-dealer credentials. ARL’s ability to integrate with internal systems means that both HR and Compliance teams can access information with ease.

Information like address changes can be entered just once, and not rekeyed into multiple platforms. Registered representatives can view and update their personal data directly into the system. They can receive assignments when exam and CE windows open, and view records, including status updates and open events.

Workflows can be configured to go to multiple reviewers with escalation notifications and monitoring throughout the process. ARL seamlessly routes requests and approvals throughout the firm. Supervisors and the compliance team can view listings of all ARLs, Exams, and CE for registered representatives, along with notifications of status and exam results updates from FINRA.

With less time spent manually entering data and looking up individual information, your staff can service more advisors than ever before. Reps have to do less administrative work, and the work of the compliance team is streamlined. Both can go about their jobs much more efficiently.