Services

Scopus provides customized research and professional services of the highest quality. We develop a thorough understanding of each client’s business, then guide our client in a manner tailored to its particular needs. Scopus offers a vast array of mentoring services, including:

Regulation Best Interest / State Fiduciary Rules

Regulation Best Interest is the most sweeping regulatory regime imposed on broker-dealers in over 80 years. Tom Selman led FINRA's assessment of a best-interest standard for broker-dealers and helped manage FINRA's assessment of Regulation Best Interest.

Scopus provides the full range of services to broker-dealers as they implement Reg BI and Form CRS. We do so with the client's business model in mind. For example, we help clients develop their policies and procedures, adopt strategies for assessing compliance and ensure proper implementation of Form CRS.

While most broker-dealers are focused on Reg BI and Form CRS, some states are adopting fiduciary rules that could severely restrict legitimate brokerage business. Scopus helps clients evaluate proposed state rules, develop alternative rule language, and prepare informed testimony to state legislatures and securities commissions on the possible effects of proposed rules on legitimate business.

Sales Practice Services

Tom Selman managed FINRA departments responsible for the interpretation and administration of FINRA's sales practice rules, including its Advertising Regulation Department and its Corporate Financing Department. Mr. Selman was FINRA's expert on the application of the Investment Advisers Act to dually-registered firms.

Scopus helps broker-dealers navigate the FINRA and SEC sales practice rules. We guide clients according to their particular products and services. For example, we conduct internal investigations for possible noncompliance, help clients review their supervisory policies and procedures, apply sales practice rules to new products and services, develop compliance strategies, and resolve particular sales practice issues.

Litigation Services

Tom Selman managed FINRA departments responsible for aspects of the disciplinary process, including the Office of Hearing Officers, the Office of Disciplinary Affairs, and the Criminal Prosecution Assistance Group.

Litigation is the most vexing problem that a broker-dealer can face. Scopus helps our clients confront these issues. We offer a wide range of services related to broker-dealer litigation, informed by our history of regulatory leadership. For example, we conduct internal investigations concerning possible noncompliance with FINRA or SEC rules, consult with clients concerning particular litigation issues, serve as independent consultants in enforcement settlements, mediate disputes, and serve as expert witnesses in selected cases.

Analysis of Regtech Software

Broker-dealers increasingly rely upon regulatory technology to advance their compliance with FINRA and SEC rules. This technology will better ensure that firms can comply in a more cost-effective manner. Scopus helps our clients assess regtech software by analyzing how it would apply to the client's business model, whether it would achieve the advertised purpose, and how well the vendor will perform necessary services.

Training

The training of associated persons and principals is an important feature of FINRA and SEC regulation. For example, the training of sales personnel concerning compliance with Reg BI will be essential to the successful implementation of policies and procedures.

Tom Selman's well-recognized ability to explain complicated rules to an unfamiliar audience and to elucidate their application to business has made him a featured commentator at regulatory conferences. Scopus assists our clients in the development of training programs. We help clients develop training content that is tailored to the audience, focused on the important points and delivered most effectively.

Due Diligence

The brokerage industry continues to consolidate. Scopus helps clients perform due diligence on proposed acquisitions or mergers, with particular emphasis on a firm's compliance history, risk management, and commitment to regulatory oversight.