com-pli-ance: the act of conforming, acquiescing, yielding in accordance with or cooperation with, obedience. i.e. Compliance with the law is expected.
The “Compliance Department” is staffed by “General Securities Principals”: FINRA registered Series 24 supervisors. It is their responsibility to supervise all of the operations within Shoemaker Financial to assure their alignment with and compliance with SEC and Financial Industry Regulatory Authority(FINRA) laws, rules and regulations.
Areas of oversight encompass: advertising, written communication, public appearances and information content, electronic communication with clients and the public, proper use of sales materials, suitability of product selection, proper business conduct, proper forms use and proper storage and retrieval of records, proper training and licensing of personnel. The principals can aid in conflict resolution and the proper processing of any client complaints concerning securities related transactions enacted or enabled by members of the firm.
The compliance effort begins at the Broker Dealer(BD) level “Securian Financial Services” with the Chief Compliance Officer. He has a staff of registered principals for oversight of the broker dealer’s Offices of Supervisory Jurisdiction(OSJ) “field offices”. Each OSJ has an assigned Senior Compliance Officer with a staff of registered securities principals to assist him in the oversight of all “Registered Representatives”(RR) licensed securities professionals, and non-registered personnel process business under their jurisdiction.
Shoemaker Financial is an OSJ of Securian Financial Services and Shoemaker Financial has Registered Branch Offices under its jurisdiction located in the states of Tennessee, Mississippi, Indiana and South Carolina. Shoemaker’s compliance department is responsible for proper business conduct by both registered and non-registered personnel in all of its registered branches.