2c. BD LAB – Preparing for BD Regulatory Examinations (Intermediate - CLOSED)
This lab will highlight certain unique differences between State, FINRA, and SEC BD exams and identify best practices to prepare for and manage a BD regulatory exam from receipt of an exam request through the final exam report. Lab facilitators will discuss the importance of developing a rapport with the exam staff and provide perspectives on managing overlapping exams, dealing with unreasonable exam staff or requests, handling potential deficiencies, and addressing exam outcomes. Lab facilitators will also share ways to manage employee interviews during an exam.
This session is closed to both regulators and members of the press.
The following learning objectives will be met using case studies, examples, group discussions, and other hands-on activities:
Explore ways to prepare for a BD regulatory exam by creating processes for tracking requests, establishing controls to accurately address requests, engaging in mock exams, and reviewing past exams, as well as recent exam priorities and enforcement actions.
Share best practices for managing the exam both internally and with respect to the exam staff.
Discuss how to respond to unreasonable requests, handle requests for employee interviews, proactively address potential deficiencies, and correct inaccurate responses.
Understand how to address deficiencies in exam findings, as well as material deficiencies that may lead to an enforcement referral.
