A No-Win Job?: Branch-office managers at high risk of ‘failure to supervise’ infractions

As compliance costs increase almost perpetually and FINRA audits become more intense, branch managers find that their resources are being stretched. Managers are now overseeing larger amounts of brokers and are becoming the targets of litigation, as investors slap on the broad allegation of “failure to supervise” to complaints. These marks on the license are not always deserved. Managers claim that all the new technology which is supposed to help the branch remain compliant has created complexities. There are more resources dedicated to the technology and the process has become time consuming.

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Creative Commons Creative Commons Attribution 2.0 Generic License   Photo by  Clyde Robinson