Sample Engagements

The following representative engagements highlight the types of regulatory compliance consulting services Renaissance Regulatory Services provides to broker-dealers, investment advisers, and financial institutions. These examples demonstrate our experience supporting firms with compliance programs, regulatory examinations, FINRA membership processes, and complex enforcement matters.

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Compliance Examinations

RS teamed up with the compliance department of a large regional broker-dealer to review and update their branch inspection plan, and subsequently assisted the firm in implementing the inspection program.

FINRA Membership Process

RRS was engaged by a large financial services holding company to support its compliance and legal team during a corporate reorganization that required filing simultaneous FINRA New Member Application and Membership Continuance for their wholly owned subsidiaries. RRS support and expertise with these processes resulted in the applications being approved by FINRA in less than 4 months.

Independent Consultant

RRS served as the Independent Consultant for a broker-dealer following an enforcement action by a State Securities Administrator. The action involved violations, including the use of letters of authorization. RRS reviewed operations, supervisory procedures, and compliance policies. RRS conducted required reviews and prepared reports mandated in the enforcement order.
RRS served as the Independent Consultant for broker-dealers following AWCs issued by FINRA. The actions related to failures to identify Net Asset Value (NAV) transfer programs. RRS reviewed the firms’ methodology to identify and compensate affected investors. RRS also evaluated written restitution plans for qualified investors. This engagement required extensive mutual fund and regulatory compliance expertise.
RRS served as the Independent Consultant for a broker-dealer following a Stipulation and Consent Order with a State Securities Administrator. The order covered the firm’s business and compliance procedures for fixed income sales. It also addressed suitability, supervision, and books and records requirements. This engagement required expertise in fixed income products and regulatory suitability standards.
RRS served as the Independent Consultant for a broker-dealer following an SEC Administrative Proceeding. The proceeding involved the alleged failure to implement policies preventing misuse of material, non-public information. RRS evaluated supervisory procedures, Chinese Wall practices, and training standards. The engagement also reviewed email communication controls and firewall procedures.

Expert Witness

An RRS team member was engaged as expert witness in a FINRA Arbitration on behalf a broker-dealer for claims of defamation with regard to comments made on the Form U5 filed pursuant to FINRA rules. This engagement required in depth familiarity with FINRA/NASD rules, policies and practices relative to a member’s reporting obligations when completing and filing Form U5.
An RRS team member was engaged by a broker-dealer as the expert witness in a FINRA Arbitration involving selling away by a registered representative, and the issue of alleged failure to supervise on the part of the employing broker-dealer. This engagement required extensive knowledge of FINRA Rules 3040 and 3010, among others.