FINRA Rule 3110

Written Supervisory Procedures (WSPs) are the foundation of a firm’s FINRA compliance program and help ensure compliance with applicable regulatory requirements. Firms are required to amend their WSPs to reflect changes in applicable securities laws or regulations and are responsible for promptly communicating changes to all their associated persons. Firms should review and update their WSPs as regulatory requirements, business activities, and compliance risks change, and communicate relevant updates to associated persons.

For business-related electronic communications, firms should maintain supervisory procedures that are reasonably designed to:

• Review incoming, outgoing, and internal business communications.
• Identify and appropriately handle customer complaints, customer instructions, funds and securities matters, and communications requiring review under securities laws or FINRA rules.
• Review internal communications involving matters that require supervisory review, including certain customer complaints, account changes, and communications subject to regulatory approval requirements.
• Use a risk-based approach to determine whether additional supervisory controls or reviews are necessary.
• Capture, investigate, and respond to written customer complaints.
• Provide employees with training on communication-related supervisory procedures and maintain records of that training.
• Document supervisory reviews and maintain records demonstrating that reviews were conducted.