FINRA Planning & Approval for Prime Brokerage & Portfolio Margin – Prime Broker

Challenge/Goals

The company was not gaining any traction with the regulators for approval for Prime Brokerage and Portfolio Margin

Spearheaded the successful approvals for portfolio margin and prime brokerage with FINRA for a new entrant into the Prime Brokerage market.
The initial assessment reviewed all control areas impacted, including trade management, clearance & settlement, asset servicing, margin operations & controls, compliance written policies & procedures, risk management protocols, technology & systems, and service providers.
Enhanced the people, process, and technology alignment with FINRA requests and concerns.
Led conversations, demos, and presentations with the regulators.
Tested all control mechanisms with technology vendors and was instrumental in the re-writing of impacted WSPs. Coordinated with all senior stakeholders, staff and counsel while providing status to the CEO of the firm.

CLIENT PROFILE: Asset Management

CLIENT PROFILE: Prime Broker