2017 Annual Compliance Meeting | Summary Notes
On behalf of the DPFG Compliance Team, we would like to thank you for your participation in this year’s Annual Compliance Meeting. We understand that the compliance topics are many and the content is vast, and therefore would like to take this opportunity to give a brief overview of a few topics presented.
In an effort to assist your clients in making an informed decision regarding a potential rollover from an employer-sponsored retirement plan, such as a 401(k), DFPG created the Investment Representations and Agreement – Rollovers Form. This is more than a disclosure document, it serves as a client educational tool, giving you and your client an opportunity to review the various rollover options and important considerations before initiating a rollover.
DFPG is committed to creating a culture in which protection of senior investors is a priority. In the upcoming version of both the Broker-Dealer and Investment Advisor Written Supervisory Procedures Manuals, you will notice updates made to our Senior Investor policy. These updates include: senior investor suitability considerations; an escalation and resolution process for suspected diminished capacity and financial exploitation; revisions to the DFPG new account form, which will allow senior investors to list a trusted contact; along with senior investor specific resources for representatives and clients.
We would like reiterate our policy as it relates to consolidated reports. Unless otherwise authorized, consolidated reports and statements may only be generated using DFPG approved vendors, which are, CircleBlack, Orion, BlueLeaf, and Emoney. An important consolidated report take-a-way: All investment holdings that are inputted manually must be entered in at the original investment value, with no transactional data, and must be excluded from performance reporting. We will be in contact with each office to verify which programs are being used and to insure that all disclosure language has been updated per the most recent notification sent from the compliance department.
DFPG remains committed to creating a culture of information security to protect you and your clients’ sensitive information. As part of our information security awareness, we would like to remind you to complete your DFPG SHIELD Policy Guide with your current information security measures in preparation for your consultation with the DFPG Information Security Team. DFPG’s INFOSEC Team will be scheduling time with each branch to assist you in the development of your INFOSEC Action Plan.
Consistent with FINRA advertising standards we would like to highlight that all communications with the pubic, including electronic communications, must be accurate, truthful, fair and balanced and free of misleading or exaggerated statements, claims, or language. As a reminder, all DFPG associated persons are required to complete DFPG’s social media training prior to the use of social media for business purposes. DFPG approved social media sites are: Twitter, Facebook, and LinkedIn.
DFPG ANNUAL COMPLIANCE QUESTIONNAIRE COMING SOON THROUGH QUEST CE
DFPG Compliance will be distributing its 2017 Annual Compliance Questionnaire in the upcoming weeks. Completion of this questionnaire is mandatory, as it used to verify and update your U4s on FINRA’s Web CRD. Among other items, you will be able to review, re-certify, update or add an applicable outside business activities, outside brokerage accounts and private security transactions, in addition to certify your receipt and understanding of DFPG policies and procedures.
Once again, we thank you for your attendance at this year’s Annual Compliance Meeting. It was great visiting with each of you. We appreciate and acknowledge all of your hard work and efforts and look forward to building upon our relationships and partnerships with each of you.
Compliance | Director of Supervision