The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority are launching a new initiative to promote strong compliance practices at broker-dealer firms.

Similar to the SEC’s ongoing CCOutreach Program for investment advisors and investment company chief compliance officers, the CCOutreach BD program is intended to help broker-dealers’ chief compliance officers ensure effective communication about compliance risks, maintain effective compliance controls and foster strong compliance programs within their firms.

The SEC’s Office of Compliance Inspections and Examinations, in co-ordination with the Division of Market Regulation, will sponsor the CCOutreach BD program together with FINRA. The program will feature a National Seminar at SEC headquarters in Washington, D.C., tentatively scheduled for March 2008, as well as regional compliance seminars across the country.

These meetings will provide the opportunity for open discussions on effective compliance practices and timely compliance issues in ever-changing markets. The SEC and FINRA are soliciting input from CCOs on topics of interest.

“This new CCOutreach program will provide a unique opportunity for compliance chiefs across the country to discuss priority topics directly with regulators — and they can participate in shaping the agenda for those discussions themselves,” said FINRA CEO Mary Schapiro.