The platform would henceforth support FINRA’s strengthened pre-trade customer suitability requirements.
The BondWorks Suitability Module will help financial advisors to meet the requirements of the new FINRA Rule 2111 by enabling them to run pre-trade suitability tests on investment ideas even before recommending them to their customers.
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Further, the module provides alerts when potential transactions may not be suitable for a customer’s investment profile, halting potential violations before they happen.
Kamaryn Tanner, managing director at BondDesk Group remarked "Most suitability software systems today operate post-trade, thereby missing the requirement that recommendations, not only transactions, be suitable."
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