Compliance

The wheels of FINRA regulation and disciplinary actions are constantly turning in our fast-paced and fiercely competitive industry. We cannot stress enough the importance of maintaining your regulatory edge over and above what the average broker maintains. Our department will help you ensure that your practice is well informed and within compliance guidelines.

Compliance Department breakdown:

Senior Compliance: The Senior Compliance staff handles the big picture items relating to the changing regulatory environment of FINRA and the SEC. This team, along with Sigma’s executive committee members, are responsible for implementing and maintaining compliance with the rules and regulations of our industry.

Sales Review: The Sales Review team utilizes our convenient iSales system to quickly examine and provide feedback on your mutual fund, variable annuity, variable life, alternative investment, equity indexed annuity, managed account, and hourly financial planning activities. After scanning and submitting your client’s compliance documents and applications through the iSales tab of the Sigma website, or by faxing the documents in to our dedicated toll-free sales review fax number, you can receive approval to forward the application onto the investment company within 1-2 hours of submission.

Advertising Review: After submitting your advertising documents by fax or email, the Ad Review team will review, provide comments as needed, and if everything is in order, can typically generate an approval within 2-5 days of submission for items such as business cards, letterhead, client letters, and advertisements. The Ad Review team also evaluates more complex items such as client presentations, seminar pieces, articles, and websites.

Audits: The Sigma audit staff helps our representatives prepare for a rare, but unexpected visit by FINRA, the SEC, or state regulatory agencies. Most reps enjoy our audit visits as a way to catch up on any questions they may have. At least once every 18 months, our staff will contact you to set up an appointment to cover at least six major areas: Branch Identification, Required Files (representative file, advertising file, compliance file, complaint file, incoming & outgoing correspondence files, and seminar files), Logs (daily blotter, cross-reference, client holding records, and check logs), Prospectuses, Fingerprinted Employees, and Client Files.

Disclosures & Customer Complaints: Although we hope you never have to utilize this service, our compliance staff will assist you with handling any client complaints or other disclosures that require an update your FINRA U4.

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