Compliance advice, ethics, and culture

This chapter discusses the provision of compliance advice by compliance officers, which is a central element of the compliance program. It first explains how compliance advice is the necessary supplement to training on the compliance policies and procedures. It then looks at the factors in the broker-dealer that both facilitate and discourage compliance advice. The chapter also considers the related topic of compliance officers advising on ethics, culture, and other social standards adopted by the broker-dealer. Finally, it briefly looks into what compliance officers should do if their advice is not followed.