An advisor's initial instinct when notified of a pending examination may be to worry or be nervous. As with any regulated industry, however, firm examinations will occur -- so we recommend that you take fear out of this process.
Once you receive notification of a regulatory examination, stay calm and follow these seven steps. (Page through to see all the steps, or click here
to see them in a single page.) -- Brian Hamburger & Gary D. Davis
Brian Hamburger is president and CEO and Gary D. Davis is program director at MarketCounsel, a compliance consulting firm based in Englewood, N.J.