Series 82: Member Supervisory Responsibilities And Procedures

Member Supervisory Responsibilities and Procedures

By Section 15(b)(4) of the Exchange Act, the SEC may take punitive action against any broker-dealer that has willfully violated, enabled a violation of, or failed to supervise a violator of securities law and regulations. The Act goes on to say that no supervisor will have failed in his duties if a supervisory system and procedures have been established and dutifully applie