June 2010
Lisa Jones is unique in her field. A compliance department usually conjures up negative images of the people you talk to when problems arise. Lisa, Chief Compliance Officer at Advantage Futures, is changing that perception. “Our compliance department really serves two functions. First, we act as the primary liaison between regulators, auditors, and exchanges to make sure we are in full compliance as an FCM and clearing member. In addition, we serve as a resource for our clients to address any questions they might have regarding exchange memberships, business structures, interpretation of exchange rules and regulations, and the best practices for trading.” Given the increasingly complex regulatory environment surrounding futures trading, this resource can be invaluable to traders who prefer to spend the majority of their time trading rather than understanding the nuances of the latest regulatory code.
Lisa has over 20 years of experience in the futures industry. After graduating from Loyola University, she began her career at Lind Waldock as a runner and then worked in their compliance department for six years. From there, she worked at the Bank of Montreal covering compliance for futures, options, FX, OTC, and municipal products. After four years with Fuji Futures (now Mizuho Securities), she joined Advantage Futures in 2004. “Our approach to compliance really has its roots in our Japanese bank origins,” reflects Lisa. “We take a rather conservative approach to regulations knowing that ultimately, clients would rather deal with a firm that is not making headlines for violating the rules.”
Know Your Client
When reviewing new accounts, the most important rule for the Advantage Compliance Department is “Know Your Client.” With regulatory scrutiny at an all time high, Advantage Futures meticulously avoids any gray areas in regulation. “This has always been a highly regulated industry, and in the current environment, more so than ever,” says Lisa. “The best situation for both our clients and our firm is when we understand their trading objectives, then we can actively aid in their pursuit.” The Compliance Department works closely with our Sales Representatives and Credit and Risk Department to make sure all involved are aware of each client’s goals. Knowing the client well prior to the account opening and initial trading, helps reduce future regulatory and user issues. It also allows Lisa and her team to provide recommendations on exchange memberships or guidance on a suitable corporate structure. “When clients are compliant with all regulatory guidelines and able to focus exclusively on their trading, I know we are performing our job well,” concludes Lisa.
To learn more about how the Advantage Futures Compliance Department can help your trading business, please contact your client representative or email us at contactus@advantagefutures.com/afdev.
