Outside Business Activities are on the regulatory radar. 2021 saw FINRA issue several fines and sanctions to brokers for activities ranging from doing unreported notary work to setting up firms to fund small businesses. FINRA’s recently released 2022 Report on Examination & Risk Monitoring includes adjustments to rules for reporting and supervision of outside business activity.
The report found several common exam deficiencies, including:
Your firm likely has policies and procedures in place requiring employees to disclose their outside business interests. But do you really understand the nuances of Outside Business Activities and what they mean for your compliance program?
Join MCO and Elin Cherry for the on-demand webinar Understanding OBAs: Compliance Insight on Outside Business Activities. Elin hosts an interactive discussion where we’ll answer questions that will help you understand the latest FINRA guidance and deepen your knowledge of Outside Business Activities, including:
MCO's Outside Business Activities solution allows firms to easily manage the capture of employee outside business activities and efficiently identify, monitor and disposition potential conflicts of interest.
Want to learn more? Let us know and one of our experts will be in touch.