With the heightened scrutiny in the financial services industry and the changing regulatory environment, more financial advisors are getting caught in the crosshairs of their firms’ hyper-vigilant compliance departments. While FINRA rules generally have not changed, there has been a significant increase in sensitivity about the need for stricter compliance oversight.
Advisors need to operate their businesses as though their chief compliance officer is sitting beside them with a magnifying glass, scrutinizing every action. Get every commitment in writing, don’t take anything for granted, and always do the right thing.
