Series 3: 7.3.1.2. On-Site Visits

7.3.1.2. On-Site Visits

A member firm that supervises one or more branch offices and/or guaranteed IBs must perform an on-site inspection of every branch office and guaranteed IB on at least an annual (i.e., calendar year) basis.

There are two exceptions to the annual on-site inspection requirement.

First, members must promptly perform an on-site inspection of a branch office or guaranteed IB if the member becomes aware of any irregularities or misconduct involving the branch office or guaranteed IB, including but not limited to: disciplinary actions, customer complaints that upon inquiry appear bona fide, significant operational issues or irregularities or