New Mexico
New Mexico Regulation and Licensing Department Securities Division Issues Order for Authorization of Remote Audits
Effective December 3, 2024, New Mexico Securities Division authorizes for the year of 2025, that Brokers / Dealers can conduct audits of single-agent branch offices remotely. This shall remain in effect until December 31, 2025, unless extended or rescinded. Please see the attachment for more information.
To conduct an audit of single-agent branch offices remotely, the following conditions must be met:
To conduct an audit of single-agent branch offices remotely, the following conditions must be met:
- A broker-dealer that intends to conduct a remote audit shall submit in writing to the Division a proposed procedure detailing the steps that the broker-dealer's compliance department will utilize when conducting such remote audits of its single-agent branch offices.
- The proposed procedure is approved in writing by the director of the Division in advance of such audits taking place.
- A broker-dealer has submitted a written proposed procedure to the Division in 2023 or 2024 in accordance to the Division's previous temporary orders authorizing remote annual audits of single-agent branch offices.
- The broker-dealer provides written notice to the Division that the broker-dealer will conduct remote audits of its single-agent branch offices in 2025 in accordance to the previously approved procedure.
- A broker-dealer that has submitted its most recent written proposed procedure to the Division prior to 2023 shall submit in writing to the Division an updated proposed procedure for approval.
- The proposed procedure is approved in writing by the director of the Division in advance of such audits taking place.
- A broker-dealer has submitted a written proposed procedure to the Division in 2023 or 2024 in accordance to the Division's previous temporary orders authorizing remote annual audits of single-agent branch offices.
- The broker-dealer provides written notice to the Division that the broker-dealer will conduct remote audits of its single-agent branch offices in 2025 in accordance to the previously approved procedure.
- A broker-dealer that has submitted its most recent written proposed procedure to the Division prior to 2023 shall submit in writing to the Division an updated proposed procedure for approval.
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