2.3.5. Written Supervisory Procedures
A firm's written supervisory procedures (WSPs) document the supervisory system and instruct supervisors as to how their supervisory responsibilities must be performed.
Written supervisory procedures must establish procedures to:
• Frequently review and approve customer accounts for compliance with applicable rules
• Periodically inspect each office to detect and prevent violations of the rules
• Maintain and preserve the books and records required by the MSRB
• Supervise the processing and clearance of municipal securities
• Promptly review and approve in writ