RELATIONSHIPS WITH REGULATORS
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Consistent with the firm's legal obligations to its shareholders, employees and clients and its commitment to high ethical standards, dealings with regulators should be timely, forthright and cooperative.
- Ongoing regulatory reporting obligations should be discharged in a timely, accurate manner with appropriate attention to dealing fairly with individual employees.
- The firms' legal and/or compliance departments should be actively included in the regulatory examination process to gain the potential benefit of an early discovery of problems and give the firms an opportunity to correct them.
- Firms' employees must understand the role regulators play in the securities industry. Through ongoing education, employees will be better able to work within the regulatory guidelines and legal framework.
- For the common good of the industry, firms should be willing to share with regulators their policies, procedures, technology and organizational structures designed to achieve effective self-regulation.
For more information on Best Practices, please contact Don Kittell.
(Adopted by the Board on November 10, 1995.)
