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The Future of Outsourcing and Vendor Management

SKU: FR2500
Total Credits
1
Price$50
  • Online Access
  • Smartphone
  • iPad/iPod/Tablets
  • CDs/DVDs

Description

This panel of FINRA staff and industry members will address the use of third-party service providers and firms’ responsibility for compliance with all applicable laws and security regulations. The session offers examples and suggestions for firms to consider when implementing their everyday supervision and compliance efforts.

After attending this session, you will be able to:

  • Compare and contrast the differences between outsourced and vendor arrangements
  • Discuss struggles and operational issues faced in the use of such arrangements
  • Identify issues for consideration and review during onboarding and ongoing use of outsourced and vendor arrangements

FINRA® is a registered trademark of the Financial Industry Regulatory Authority, Inc.

Lecturer Bios

Joseph J. Sheirer, Esq.

Joseph J. Sheirer is the Director of FINRA’s New Jersey District Office. Mr. Sheirer oversees the Surveillance, Cycle Examination, and Cause Investigation Programs for member firms and associated persons located in New Jersey and New York (outside of the five boroughs of New York City and Long Island). Mr. Sheirer previously developed and oversaw FINRA’s national Membership Application Program group and worked in varying capacities in a number of other FINRA departments including Risk Oversight and Operational Regulation, Continuing Education, Testing, and Qualifications and Registration. Mr. Sheirer is a graduate of Brooklyn Law School and Drew University and is a member of the Bars of the States of New York and New Jersey.

Allan Goldstein

Allan Goldstein is CFO, COO and CCO of Trade Informatics, and is responsible for all compliance and regulatory matters as well as day-to-day operational and financial management of the firm. Mr. Goldstein has worked in the securities industry since 1985, when he began as a Specialist Trading Assistant on the NYSE trading floor. He later operated as an independent floor broker at the NYSE serving as CCO, CFO and FINOP with the floor based “Direct Access” institutional brokerage Safir Securities. Mr. Goldstein has additional experience as an Institutional Sales Trader in global equities and fixed income with Friemark Blair & Co., Chief Compliance Officer at Bear Hunter Structured Products, and Compliance Officer at Bear Wagner Specialists, as part of a team designing its electronic market making business on the Archipelago Exchange. Mr. Goldstein earned his bachelor degree and MBA in Finance and Statistics from the Stern School of Business at New York University.

Douglas Wright

Douglas Wright is the Chief Compliance Officer and Chief AML Officer for The Investment Center, Inc. Mr. Wright has been licensed since 1987, and has more than 28 years of combined experience in compliance, supervision of staff, retail securities sales, and management. Mr. Wright joined The Investment Center, Inc. in 2001 as its Chief Compliance Officer. The Investment Center, Inc. has been an independent broker-dealer since 1986 (also a Registered Investment Advisor through an affiliated company) serving retail clients and has the distinction of being voted "Broker-Dealer of the Year" six (6) times by Investment Advisor Magazine. The firm currently has approximately 270 registered representatives and 187 branch offices located throughout the country. Mr. Wright is primarily responsible for overseeing and managing compliance within the organization, and ensuring that the company(s) and its employees are complying with regulatory requirements and internal policies and procedures. Additionally, Mr. Wright is responsible for establishing standards and implementing procedures to ensure that the compliance programs throughout the organization are effective and efficient in identifying, preventing, detecting and correcting noncompliance with applicable rules and regulations. As the Chief AML Officer, Mr. Wright’s responsibilities include managing, coordinating, and monitoring the day-to-day Anti-Money Laundering (AML) Compliance Program. He also manages all aspects of the firm’s AML Know Your Customer (KYC) compliance including adherence to applicable AML and the Bank Secrecy Act (BSA), USA PATRIOT Act laws, and regulations as pertaining to anti-money laundering. In 2011, Mr. Wright attended and completed the FINRA Institute at Wharton's CRCP program. Starting in 2015, Mr. Wright was elected to the FINRA District 9B Committee. Mr. Wright received a bachelor’s degree in Finance and Economics from the University of Arizona and holds the following securities related licenses: Series 7, 63, 24, 4, 27, and 65. He is currently an active member in the National Society of Compliance Professionals. In addition, he is also a volunteer firefighter in New Jersey and has served in the past as a FINRA arbitrator.

Demetrios Koutros

Demetrios Koutros has been with FINRA since its inception in 2007 and was previously with the New York Stock Exchange in similar roles. In his role as Deputy Unit Leader within Member Regulation, Mr. Koutros has responsibility for the surveillance of approximately 200 firms’ compliance with financial, operational and sales practice rules. He is also involved with the rollout of FINRA’s new Risk Platform Redesign, which is utilizing a new methodology and technology to advance the surveillance of member firms. Prior to his tenure at FINRA, Mr. Koutros worked in managerial roles at Prudential Securities, Citigroup and National Financial Services in the area of Regulatory Reporting and Operations Control. Mr. Koutros holds a bachelor’s degree from Pace University.



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