Written Supervisory Procedures (WSPs)

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Chapters in this video

  1. 0:00 What a WSP actually is and why Sam needs one
  2. 0:58 The four Ws: who, what, when, and how
  3. 2:28 Mandatory topics and policing the supervisors
  4. 3:44 OSJ location rule and the three update triggers
  5. 5:04 The options trading deficiency trap
  6. 5:55 Rapid-fire exam recap

What this video covers

  • Why WSPs must name specific individuals, not generic job titles like "the compliance officer"
  • The four mandatory components of every supervisory review: who, what, frequency, and manner of documentation
  • The required topics WSPs must cover, including investment banking, correspondence, complaints, compensation oversight, and safeguarding customer funds
  • Why a current copy of the WSPs (or the relevant portions) must be kept at each Office of Supervisory Jurisdiction (OSJ), not just at the home office
  • The three triggers that require a prompt WSP update: business activities, personnel, and regulations
  • Why an outdated WSP that doesn't cover a new product line (like options) is an automatic supervisory deficiency
  • How compensation structure oversight inside the WSP keeps the supervisor from being compromised

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