3d. ALL – Responding to Regulatory Investigations and Inquiries (Advanced - OPEN)
When regulators discover matters of concern, a formal inquiry may be initiated to investigate the facts and circumstances, ascertain whether any rule violation has occurred, and if enforcement proceedings or other actions are warranted. Compliance or legal personnel may be asked to respond to determine the scope and severity. Commonly this is seen by FINRA in the form of 8210 letters and by the SEC in the form of an inquiry. In this session, the panel will discuss best practices for how to respond to a regulatory investigation. Using case studies, the panel will explore practical tips for managing the process.
This session is open to regulators but closed to members of the press.
Learning Objectives:
Identify the origin and nature of the inquiry.
Know which questions you should ask the examinations, enforcement, or IM counsel at the commencement of the investigation.
Learn how to request a copy of the formal order and why it is important.
Internally investigating areas of concern to ascertain compliance risks.
Know how to respond to 8210 letters and formal inquiries and when to engage counsel.
Hear best practices for risk mitigation if a problem is detected (self-reporting, OTR preparations, responding to subpoena requests and designing remedial action plans to address identified issues).
