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Home & Branch Office Reviews

SCA’s Branch Audit Program is a consultant-based program that provides branch compliance supervisory services to assist firms’ home offices develop and implement a branch supervisory system that should include:

  • Clear and effective supervisory structure;
  • Training;
  • Evidence of supervisory review;
  • Follow-up of exceptions ("red flags"); and
  • Monitoring effectiveness.

SCA also helps firms modify their branch supervisory structure to meet the requirements of Rule 3010(c), including answers to the following questions:

  • Who may now conduct office inspections?
  • Can we use the limited size and resources exception?
  • How do we determine which branch managers are subject to the heightened supervision requirement?

SCA's branch audits include:

  • Interviews with branch personnel;
  • Review of books and records;
  • Review of compliance with industry rules and regulations;
  • Testing and verification of the firms' supervisory and compliance policies and procedures;
  • Report findings and recommendations and addressing all issues included in
    Rule 3010(c); and
  • Follow-up audits for offices as necessary.