Reintroduction of Policy re. “long-outstanding” compliance files

Hello everyone!

As was initially discussed on the April 2025 company-wide call, as the brokerage continues to grow and volumes continue to increase, we have decided to re-implement a pre-existing policy around “long outstanding” or “stale dated” compliance. We are giving you advanced warning – this policy will apply to any and all files still outstanding as of June 1, 2025, and continue indefinitely.

Beginning with the date on which the funds are received to the brokerage, all files should have complete compliance with thirty (30) days. If a file is not complete and approved by the first payroll processing after the 30 days, it will be subject to a $250 compliance fee.

Should compliance remain outstanding at sixty (60 days), an additional fee of $500 applies; and, at 90 days outstanding from receiving funds, outstanding files are payable at the sole discretion of the brokerage.

You will be notified of any files that are at risk – both in advance of the June 1 date and on an ongoing basis.

If there are extenuating circumstances for any reason – including you want to defer compliance in order to manage payroll for tax purposes – please reach out to us in advance. We’re willing to work with you, but need you to communicate with us.

This message will be shared with all agents via email in addition to the Compliance Corner. If you are involved on a team with members who might not see this message, we encourage you to share with your peers.

If you have any questions, please don’t hesitate to reach out.