- (As background for this assignment, please re-read the FINRA Notices to Members 13-23 and 13-45 reminding firms of their responsibilities concerning fees and the rollover of Individual Retirement Accounts.) (Attached)
- You are the Chief Compliance Officer at a firm that handles a fair number of IRA rollovers. Your boss has asked you to prepare a presentation for him to deliver to the Board of Directors describing FINRA’s two releases.
- Your presentation should consist of 9-12 Power Point slides and should provide an overview of the concerns raised by FINRA with respect to the rollover process. Concise bullet points for each slide topic. Use the “notes” to add talking points. Use clean, professional, slide design and layout.
- You should briefly touch on:
- Issues of conflict of interest,
- With respect to conflicts of interest, please highlight a strategy to comply with the best practices discussed in FINRA’s “Report on Conflicts of Interest” (highlighted in Note 17 of Notice to Members 13-45).
- Suitability and supervision as described in the Notice.
- With respect to suitability, discuss how your plan abides by FINRA Rule 2111.
- With respect to supervision, discuss how your strategy complies with the considerations articulated in FINRA Rules 3110 and 3120.
- Finally, with respect to “Communications with the Public,” discuss how your plan is consistent with the “fair dealing and good faith” requirements of FINRA Rule 2210 and in keeping with the best practices described by FINRA in Notice to Members 13-23.
- Please use the “notes” feature in Power Point to further explain the key messages that your boss should deliver during the presentation and to anticipate any questions that she might be asked to address.
- (The “notes” feature in Power Point allows you to insert notes at the bottom of each slide, where it says “click to add notes.” The notes are solely for the benefit of the presenter; the audience will not see the notes when the slides are displayed.) .
- You should rely on the Notice to Members embedded in this week’s module, as well as independent Internet research, in preparing your presentation.
