We're in the OSJ business, so you don't have to be. When you join BAR Financial and affiliate with Financial Network, you can have confidence knowing that we continue to live up to our reputation for strict adherence to compliance. We are continually monitoring regulatory policies, processes and procedures to help you maneuver through the obstacles that legal and regulatory issues can pose to your business. Financial Network maintains a comprehensive compliance program that includes ongoing education to ensure your investment program is meeting regulatory guidelines.
On a local level, our regional compliance team ensures that compliance and operations policies and procedures are in place and up-to-date. On a daily basis, our local staff monitors investment representatives' activities, reviews paperwork, checks suitability, reviews marketing and advertising materials and resolves deficiencies. Our careful examination of your books and records with regular field audits helps you stay in compliance.
On a national level, Financial Network has deep roots in the regulatory industry and understands the impact legal and regulatory issues have on your business. Strong regulatory backgrounds, combined with the high professional credentials of our management team, give Financial Network a strategic edge in working with you.
Our compliance support includes:
Regularly scheduled field and back office compliance audits and branch inspections
SEC Books and Records record keeping; USA PATRIOT Act Compliant record keeping
Internal controls and supervisory policies for Rule 3013, SEC rule 202(a)(11), etc.
Due Diligence
When you join BAR Financial, you will have access to Financial Network's in-house experienced and highly qualified team of analysts whose only function is to perform due diligence review. Financial Network's Due Diligence Committee meets to review current trends in the marketplace and to monitor the Approved Product Lists. The due diligence process for all products is performed on an annual basis. Each of the product sponsors must cooperate with Financial Network’s continuing due diligence efforts in order to continue the relationship. The products that are on the Approved Product Lists are “best of class,” and Financial Network offers a wide variety from which to choose.
Each year, Financial Network sends substantial quantities of due diligence material to our associated financial institutions. Financial Network's staff has addressed virtually all areas of regulatory inquiry and therefore our financial institution partners are well prepared for regulatory examinations. Financial Network has created a supplementary binder so an institution can maintain all due diligence information in one convenient location.