Enforcement Alert: Retain even your contract reps' business-related e-mail - or risk fines


Make sure you have ready access to the e-mail communications that reps are using to conduct business for your firm – even if those reps aren’t your immediate employees. That’s the takeaway from a recent FINRA enforcement action.

Regardless of whether the rep is independent, the reps should be required to use your e-mail system, says Amy Lynch, president of FrontLine Compliance LLC, a regulatory compliance consulting firm based in Leesburg, Va. and New York. At the very least, don’t allow them to use outside accounts unless they can be immediately captured by your e-mail system, she adds.

Please see full alert below for more information.

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