RULE 2210

RULE 3110

RULE 3120

RULE 3270

EAGLE EYE automates internet supervision and helps your firm comply with FINRA and SEC rules while demonstrating to regulators that your firm is actively supervising the web.

EAGLE EYE monitors advisors’ online presence and detects social media, websites, OBAs, and more to resolve issues before regulatory discovery.
FINRA Rule 2210. Communications with the Public
 
FINRA Rule 2210 requires certain communications, social media sites, websites, presentations, online article, etc. to receive pre-approval from the broker-dealer. 
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Eagle Eye finds undisclosed web pages, social accounts, events, blogs, OBAs and online profiles with our robust search algorithms. More robust than Google searches, Eagle Eye’s risk based review process finds the most relevant results to your registered advisors.
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/2210
FINRA Rule 3110. Supervision
 
FINRA Rule 3110 requires a system of supervision of registered persons. Documentation and evidence of supervision is also required. FINRA can request a firm to provide this information at any time, for any time period.
 
Eagle Eye allows firms to supervise the internet for undisclosed outside business activities, online profiles, social media accounts, website and other online communications with the public.
 
With automated documentation Eagle Eye, will date and time stamp each discovery with screen shots to provide a detailed report. A record of who signed off on each discovery and review comments or tags are associated with each record. Eagle Eye’s easy to use audit report allows you to provide complete documentation in the event of an audit or inquiry.
 
A client stated, “One of our previous hurdles was demonstrating to our regulators with documentation that we were conducting the appropriate monitoring, but with the audits reports, that are available directly from the system, we are able to document and show individual findings in an organized manner."
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/3110
FINRA Rule 3120. Supervisory Control System
 
FINRA Rule 3120 requires a supervisory system of controls for firms. Testing and verification that the supervisory procedures are reasonably designed. If a firm is going to investigate a registered rep, there needs to be a protocol for conducting the investigation. For an investigation a firm usually looks at email, trading practices, bank accounts, tax returns and in the past a basic Google search.  
 
Eagle Eye allows firms to demonstrate that they have a repeatable and systematic way to conduct ongoing reviews of registered representatives in real-time. 
 
Eagle Eye assists supervisors with searching online for fraud. Often misrepresentation online through advertising or ownership in entities that are not disclosed by registered representative could be considered selling away or fraud. Eagle Eye’s automated documentation with screen shots helps provide evidencing of a firms search and review efforts.
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/3120
FINRA Rule 3130. Annual Certification of Compliance and Supervisory Processes
 
This rule requires the firm's chief executive officer(s) (CEO(s)) to certify annually that the firm has in place processes to establish, maintain, review, test, and modify policies and procedures reasonably designed to achieve compliance with applicable securities laws and regulations and FINRA rules.
 
With Eagle Eye running in the background, know that your supervision of the internet is continually being maintained. New discoveries will be brought to the supervisors’ attention with complete documentation.
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/3130
FINRA Rule 3270. Outside Business Activities of Registered Persons
 
FINRA Rule 3270 requires broker-dealers to review in advance the Outside Business Activity of registered advisors. Registered advisors “should” be getting pre-approval and “should” be giving full disclosure. When what “should” be disclosed is not. How do you protect your firm?
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Eagle Eye will identify online activity associated with registered advisors. This app will also discover other DBA’s associated with your registered advisors. (Undisclosed DBAs are a growing concern for FINRA according to their annual Report on Examination Findings)
 
5% of Eagle Eye findings are undisclosed OBAs and DBAs.
 
One supervisor client shared with us, “Since implementing Eagle Eye our registered reps now come to us immediately if they have an OBA or DBA that we need to approve. They are no longer waiting for a once a year report.”
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/3270

FINRA Rule 3270. Outside Business Activities of Registered Persons
 
FINRA Rule 3270 requires broker dealers to review in advance the Outside Business Activity of registered advisors. Registered advisors “should” be getting pre-approval and “should” be giving full disclosure. When what “should” be disclosed is not. How do you protect your firm?
 
Eagle Eye will identify online activity associated with registered advisors. This app will also discover other DBA’s associated with your registered advisors. (Undisclosed DBAs are a growing concern for FINRA according to their annual Report on Examination Findings)
 
5% of Eagle Eye findings are undisclosed OBAs and DBAs.
 
One supervisor client shared with us, “Since implementing Eagle Eye our registered reps now come to us immediately if they have an OBA or DBA that we need to approve. They are no longer waiting for a once a year report.”
 
Source: https://www.finra.org/rules-guidance/rulebooks/finra-rules/3270

What our clients have to say...

A collection of testimonials from the clients we’ve had the pleasure of working with.

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"The Eagle Eye Surveillance system has been a force multiplier in my firm’s supervisory scheme. This simple tool has transformed my internet surveillance sweep process from a time-consuming, multi-day enterprise where I view the same search results over and over to a simple process that can be completed in a couple of hours."

A COMPLIANCE PROFESSIONAL FROM A BROKER DEALER IN THE MIDWEST

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"We needed to come up with a better way to review our advisors' activity on the web because we weren't confident our manual internet searches were identifying everything we needed to supervise. After looking at other solutions, we selected SiteQuest Compliance and their Eagle Eye product. Sitequest Compliance was very accommodating, working closely with us to meet our company's specific needs. We have found our internet searches to be much more robust now. SiteQuest Compliance continues to be a great partner and is very customer focused!"

A LARGE GLOBAL RETIREMENT SOLUTIONS AND INSURANCE COMPANY

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"Eagle Eye has allowed our compliance department to comply with our supervision requirements mandated by the CFTC and NFA. Our review and monitoring process was very manual and time consuming; however, with this system we have been able to do this in a fraction of the time. As soon as we implemented Eagle Eye, the system found searches that were previously missed with the manual process and as a result we updated our policy and procedures to minimize compliance risk. Also, one of our previous hurdles was demonstrating to our regulators with documentation that we were conducting the appropriate monitoring but with the audits reports, that are available directly from the system, we are able to document and show individual findings in an organized manner."​

A COMPLIANCE PROFESSIONAL SUPERVISING IN THE FOREIGN EXCHANGE MARKETS

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