Brian Megenity – Senior Compliance Consultant
PROFESSIONAL EXPERIENCE
B/D Consulting Associates, Inc., Duluth, Georgia
President/Owner
September 2001 - Present
- Owner of small consulting firm that specializes in delivering off-site FINOP services to small broker/dealers.
- Perform monthly net capital computations for broker/dealer clients.
- File FOCUS reports for broker/dealer clients.
- Work closely with broker/dealer clients to resolve issues related to books and records and financial reporting.
- Act as liaison between broker/dealer clients and regulators.
Through his firm B/D Consulting Associates, Inc., Brian Megenity is also a Senior Compliance Consultant with Bekker Compliance Consulting Partners, LLC (BCCP) and provides regulatory compliance consulting services to BCCP’s financial services clientele.
World Group Securities, Inc., Duluth, Georgia
Vice President
Chief Compliance Officer
April 2005-November 2006
- Supervised four departments within the Compliance Division with a total of 34 employees and a cumulative budget of approximately $2,000,000.
- Responsible for monitoring compliance with all applicable securities laws, rules and regulations for the broker/dealer and approximately 6000 registered representatives in over 550 offices.
- Responsible for the design and implementation of policies and procedures designed to achieve compliance with regulatory rules and regulations.
- Responsible for ensuring that the broker/dealer is in compliance with all applicable Anti-Money Laundering rules and regulations.
- Responsible for the review and final approval of all responses to requests for information from regulators.
- Responsible for establishing, implementing and monitoring manual and electronic surveillance procedures to identify possible sales practice improprieties and investigating questionable transactions.
- Responsible for review and final resolution of all customer complaints and internal investigations.
- Supervised the review and final approval for all advertising and sales literature used by the firm and by agents and registered representatives of the firm.
- Responsible for supervising the branch office audit program for the broker/dealer.
- Responsible for planning and executing the Annual Compliance Meeting for the broker/dealer.
World Group Securities, Inc., Duluth, Georgia
Director, Sales Practices & Advertising
February 2004-December 2005
- Supervised a staff of nine employees in the Sales Practices Department and four employees in the Advertising Department.
- Supervised the review and resolution of all customer complaints and internal investigations related to the sales practices of approximately 30,000 agents, 6000 of whom are registered representatives.
- Supervised the review of exception reports that monitor the mutual fund and variable product activity of all agents.
- Supervised the review and approval process for all advertising and sales literature used by the firm and by agents and registered representatives of the firm.
- Responsible for the supervision, review and approval of all responses to requests for information from regulators.
- Responsible for managing a budget in excess of $900,000 for two departments.
PFS Investments Inc., Duluth, Georgia
Director of Surveillance
September, 2003-February 2004
- Designed and implemented numerous exception reports to monitor the sales practice activity of approximately 100,000 agents.
- Supervised a staff of six analysts that reviewed exception reports that monitored the activity of approximately 100,000 agents, 35,000 of whom were registered representatives.
- Responsible for responding to regulatory requests that were related to the Surveillance Department.
- Determined when to file Suspicious Activity Reports based on activity that appeared on exception reports.
- Determined a final course of action to deal with transactions that appeared on exception reports and were determined to be unsuitable.
PFS Investments Inc., Duluth, Georgia
Senior Compliance Administrator
September, 2001-September, 2003
- Responsible for managing special projects related to compliance issues that affected the broker/dealer.
- Played a key role in re-writing the firm’s written supervisory procedures.
- Assisted in the design, implementation and surveillance of the firm’s anti-money laundering program.
- Determined whether clients that are residents of Puerto Rico and citizens of the United States suffer double taxation as a result of mutual fund and variable annuity transactions.
- Handled customer complaints through every phase of the process, including investigation, documentation and resolution.
- Responsible for responding to regulatory requests for information that were related to customer complaints.
B/D Solutions Consulting, Inc., Atlanta, Georgia
Executive Vice President
January, 2000-September, 2001
- Specialized in strategic management consulting, work flow reengineering, compliance structuring and operational analysis.
- Responsible for handling a variety of accounting, compliance, operational and technology issues for a large number of broker/dealer clients.
- Responsible for sales of consulting services to prospective clients.
- Designed and conducted branch audits for broker/dealer clients.
- Responsible for keeping the books and records and making all of the accounting entries for several small broker/dealers.
- Filed monthly and quarterly FOCUS Reports for a large number of clients.
J.P. Turner & Company, LLC, Atlanta, Georgia
Chief Compliance Officer
Chief Financial Officer
1997-1999
- Managed a Compliance Department responsible for approximately 350 registered representatives and 25 branch offices.
- Oversaw compliance for an Investment Banking Department that raised capital through public and private offerings.
- Oversaw compliance for a trading desk that made approximately 150 wholesale and retail markets.
- Supervised the accounting department and approved all entries to the books and records of the firm.
- Responsible for the accuracy of all of the firm’s books and records and filed all FOCUS Reports.
- Responsible for processing all regulatory requests, arbitrations and customer complaints.
- Oversaw a Registration Department that handled registration for the firm as well as registered representatives.
- Coordinated and managed the firm’s continuing education program, annual branch audit program, and annual compliance meetings.
NASD Regulation, Atlanta, Georgia
Compliance Examiner
1993-1997
- Responsible for conducting routine examinations of broker/dealers throughout the southeast.
- Responsible for being the regulatory point of contact for approximately 40 member firms.
- Assisted new member applicants with the entire registration process.
- Reviewed monthly and quarterly FOCUS Reports of assigned member firms for potential financial problems.
- Fielded calls from member firms and the investing public related to customer complaints, rules and regulations, and general industry information.
EDUCATION
Georgia State University, Atlanta, Georgia
Master of Business Administration, 1992
Major: Finance
Georgia State University, Atlanta, Georgia
Bachelor of Business Administration, 1990
Graduated Summa Cum Laude
Major: Finance
Professional Designations
FINRA Series 7, 24, 27, 62 and 63 registrations
Georgia life insurance license
References Available upon request