Fines & Wines

Testing, Testing and More Testing

May 18, 2023 TRADEliance Season 1 Episode 11
Fines & Wines
Testing, Testing and More Testing
Show Notes

Listen in as TRADEliance discusses considerations for a robust Testing Plan.

  • Drink every time we say testing….  No, not really, don't do that!
  • We encourage firms to create a testing plan that goes beyond a 3120/206-7 testing obligation
  • Written Supervisory Procedures vs Supervisory Controls Procedures 
  • Testing samples should be targeted and random and targeted 
  • Think of testing vendors, systems and data as three of the pillars that will support a thorough testing plan

FINRA Guidance on Supervision Topics

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