Outside Business Activities & Private Securities Transactions

Track and manage your representatives' outside activities and transactions.

Distinguishing Disclosure Types

Although similar, outside business activities (OBA) and private securities transactions (PST) carry different designations and must be properly disclosed to the member firm. Our conflicts of interest tracking solution has checks and balances in place to help firm members and compliance teams ensure that all activities are disclosed in accordance with FINRA Rules 3270 and 3280. Once submitted, compliance can review, approve and reject disclosed activity, all from one centralized dashboard. Additionally, we offer a reporting option that converts OBA information into plain text so that it can be easily submitted to Web CRD.

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Outside Business Activities 

Our web-based tracking system makes it easy for your firm members to login to change, add or manage their outside business activities from one centralized location. Once an item has been submitted, your compliance staff is immediately alerted to approve, modify or reject the request, in real-time. With the click of one button, our system additionally allows you to request your staff re-certify to any active outside business activities to ensure firm records are accurate and up-to-date. Exporting outside business activities is easy and comes formatted for Web CRD import.

Private Securities Transactions

Often times when firms or individuals are sanctioned by FINRA for issues involving private security transactions, it’s because the information was incorrectly submitted as an outside business activity rather than a securities transaction. To help firms mitigate the risk of approving improperly disclosed activities, we created a system of checks and balances that prompts the final approver to review three questions that are designed to help determine whether a submitted outside business activity should actually be disclosed as a securities transaction, or a passive investment.

 

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