For broker dealers, FINRA has declared that if a retirement plan qualifies for a Class A sales charge waiver and purchases that share class, the investor will not pay a front end sales load. It’s incumbent on the selling broker dealer to ensure that clients entitled to sales load waivers do indeed receive them. FINRA wants your firm to look back seven years, so the number of transactions you will have to review can easily run into the millions.
When FINRA calls, will you be ready?
- Delta Data is uniquely positioned to support the broker dealer community in both remediation efforts as well as establishing on ongoing supervisory system.
- Delta Data will utilize our unique industry knowledge, superior SaaS solutions and finely-honed historic industry data to deliver an option specific to your needs regarding the sweep.
Delta Data will deliver a solution that:
- Identifies historic trades in need of remediation
- Leverages industry indicators and prospectus detail to help your team make informed decisions on whether remediation is required or not
- Monitors ongoing trades for potential waiver eligibility
Our robust post trade compliance system has a proven track record of helping our clients “Stay Ahead of the Change” for regulatory needs for mutual fund trade compliance. So whether you’re just getting started, already into a remediation solution or planning now for an ongoing monitoring solution, Delta Data has the know-how to complement your process to best ease your load.