Reps interested in moving to another B/D should consider compliance when they make their choices. Dennis Kaminski, chief compliance officer at Mutual Service Corp., suggests reps consider the following factors:
1The B/D’s excess net capital
2.The B/D’s CRD record
3.The principal’s CRD record
4.Meet with reps from the larger producing offices
5.Determine the products the B/D sells, and the percentage of total revenues they represent
6.Determine the number of support people the B/D has
7.Determine the backup systems the B/D uses
8.Review copies of the B/D’s certified annual audit
9.Determine how many open lawsuits or arbitrations the B/D has