John T. Foster is the President and CEO of Bedford and Main Financial Consulting, which provides specialized consulting services primarily for broker-dealers and RIAs. Bedford and Main is listed in the FINRA Compliance Vendor Directory.
Mr. Foster calls upon his in-depth knowledge of broker-dealer management, operations and compliance to offer expert opinions and testimony. He has testified for both sides of the legal table in civil cases and FINRA arbitrations, promoting high standards of fairness for broker-dealers.
Mr. Foster specializes in clearing services and industry infrastructure litigation, along with Anti-Money Laundering (AML) issues for broker-dealers. Prior to founding Bedford and Main in 2011, he worked for 13 years in level positions for a large, multi-national clearing firm, allowing him to develop expertise with foreign accounts and anti-money laundering issues. He later served as the President/CEO of an independent broker-dealer, where he was responsible for a retail-based business and online brokerage services. The experience provided John with a uniquely relevant understanding of core SEC and FINRA compliance issues, such as suitability, supervision, senior issues, churning, and written supervisory procedures. He is proficient in matters related to client and firm interactions with both Financial Advisors and Online firms.
Advantages of our litigation services:
- Senior Level Experience - Decades of diverse high-ranking management experience in the broker-dealer industry.
- Previously held Series, 3,7,24, 27, 63.
- Still Actively Engaged – John's expert witness business is a natural extension of his core consulting services. He is a CAMS Certified Anti-Money Laundering Specialist who annually conducts many independent AML reviews. John is also certified as a FINRA Dispute Resolution Arbitrator
- It would not be possible to hold to our standards of supporting the industry if we were not selective as to specific issues and our ability to ethically provide an expert opinion.
Areas of Expertise:
- Clearing Firms / Broker-Dealer Operations
- Suitability
- Supervision
- Churning
- Senior Issues
- Online Web Brokers
- Complex Corporate Actions
- SEC Direct Market Access (15c3-5)
| - FINRA Compliance
- Anti-Money Laundering Specialist (FINRA 3310)
- Written Supervisory Procedures (WSPs)
- Foreign Accounts
- Private Security Transactions
- Outside Business Activities
- Master Accounts and Sub-accounts (FINRA 10-18)
- Financial Advisor Supervision
|
View John T. Foster's Consulting Profile.
As a consulting firm that focuses on broker-dealers (B-Ds), we often have discussions with clients, particularly new start-up firms, who are looking to understand the big picture of what makes up the industry. This paper will attempt to expand on some of the particular points noted by FINRA and to provide more color on industry trends related to the makeup, business models, and structure of the current broker-dealer environment.
