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2
INTRODUCTION
The branch compliance officer (BCO
®
) course has two related purposes.
1.
Specific purpose:
The BCO
®
course is the proficiency requirement for those who
will be responsible for compliance within a branch of a mutual fund dealer. For
example, if a bank branch offers mutual funds to its clients, a branch compliance
officer (BCO) is required.
2.
General purpose:
The BCO
®
course provides the necessary knowledge and skills
to manage and supervise an operating branch of a mutual fund dealer.
The Structure of the Course
The branch compliance officer (BCO) is responsible for the
compliance function
and
normal administration
of a branch's mutual fund activities. For example, managing
employee absenteeism is not considered a compliance function, but it would fall under
normal administration of a branch.
The chapters of this course follow a logical sequence starting with the client service
process through to order execution and finally control and supervision. A high-level
overview of each chapter, which will give you a sense for what will be covered, is
outlined in Chapter 1.