Is an OSJ a branch?
An OSJ branch must have at least one on-site supervisor who is a qualified and registered principal with the firm. The main office of each firm is always considered an OSJ and has supervisory jurisdiction and responsibility over all the firm’s non-OSJ branch offices.
What does an OSJ do?
An Office of Supervisory Jurisdiction (OSJ) is an office identified by the broker dealer as having supervisory responsibilities for agents and branch offices within its region. The OSJ has final approval of new accounts, and retail communication, The OSJ may also make markets or structures offerings.
What is a finra branch office?
The Uniform Definition exempts from the definition of “branch office” any location that is an associated person’s primary residence10, provided that: (a) only one associated person, or multiple associated persons who reside at the location and are members of the same immediate family, conduct business from the location …
What is a super OSJ?
A Super-OSJ, for example, overseeing $1 billion in advisory assets on a corporate RIA platform could pay as much as 15 basis points to its broker. If this group had its own RIA instead, it could cut out most of that expense, which could yield over $1 million in additional profit or more annually.
Is the main office of a firm an OSJ?
The main office of each firm is always considered an OSJ and has supervisory jurisdiction and responsibility over all the firm’s non-OSJ branch offices. Adding a branch office may be considered a material change and require the filing of a Continuing Membership Application (CMA).
How often does each OSJ have to be inspected?
Each member shall also retain a written record of the date upon which each review and inspection is conducted. (A) Each member shall inspect at least annually (on a calendar-year basis) every OSJ and any branch office that supervises one or more non-branch locations.
Where does a registered branch office have to be located?
Firms must report any location where books and records for the registered branch office are kept, other than the address of the registered branch office, the main office or, if applicable, the OSJ designated to supervise the registered branch office.
Can a branch office be more than one person?
No, in the case of a single-person branch office, the firm will have reported that individual as the “person-in-charge” in Section 2 (Registration/Notice Filing/Type of Office/Activities).
