Choosing new vendors can be fraught with challenges. This CLE course, presented by FINRA staff and industry practitioners, will review the most important considerations when embarking on this type of decision.

The course will address how to find technical solutions that fit your firm as well as best practices for conducting a due diligence review. Contract issue, new software implementation and an in-depth understanding of its limitations will be provided. The course will help you create a comprehensive list of both internal and external vendors as well as an understanding of your firm’s responsibility in relying on parent companies or affiliates to deal with certain functions.

Effective practices for due diligence, processes to address deficiencies and the appropriate departments to involve in these activities will be reviewed as will regulatory procedures and practices for communicating expectations.