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Compliance

• Is the area or the process which has responsibility for firm and employee adherence to the rules and regulations which govern the broker/dealer business. This includes but is not limited to The Powers and Authorities for the firm's position taking and trading limits, guidelines indicated in the employee compliance handbook, registrations, continuing education, sales literature, and employee trading activities. Generally, compliance functions are partitioned between registrations and other rules and guidelines. Non-selling employees are usually in compliance to avoid conflicts-ofinterest. However, there are exemptions for very small organizations.

 
 Embedded terms in definition
 Firm
Position
Sales
Trading
 
 Referenced Terms
 Back office: Is the area or function which relates to the processing, record keeping, and other operational aspects of transactions for financial firms. This compares to Front Office and Middle Office.Brokerage house clerical operations that support, but do not include, the trading of stocks and other securities. Includes all written confirmation and settlement of trades, record keeping and regulatory Compliance.

 Compliance registered options principal: Is the designated supervisor within a firm who is responsible for the firm and its employees to abide by the rules and regulations governing options. In particular, this person has oversight on sales literature and advertising. Advertising must also be submitted to outside regulatory bodies. Generally, the Compliance Registered Options Principal may not also be the Senior Registered Options Principal. However, an exception is provided for firms do not exceed a certain threshold in terms of revenue. This person is Securities Series 4 licensed.

 Comprehensive annual financial report: Abbreviated CAFR. The official annual report for the City of Los Angeles. It includes combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate Compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section.

 Convention statement: An annual statement filed by a life insurance company in each state where it doesbusiness in Compliance with that state's regulations. The statement and supporting documents show, amongother things, the assets, liabilities, and surplus of the reporting company.

 Crop: a) Is the yield or harvest of a planting or other agricultural or animal husbandry activity; b) See Compliance Registered Options Principal.

 
 Related Terms
 Compliance registered options principal

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