The SEC Office of Compliance Inspections and Examinations and FINRA issued a Risk Alert for broker-dealer branch office inspections, highlighting best practices and common deficiencies.  The Risk Alert urges firms to schedule exam frequency based on underlying risk rather than an arbitrary cycle, engage in unannounced inspections, utilize senior personnel, and employ compliance monitoring technology.  Higher risk branches are those where reps engage in significant outside business activities, include reps with disciplinary histories, and sell complex products including structured securities, variable annuities, or private funds.  The Risk Alert also highlights the areas of SEC/FINRA examination focus including supervision of customer accounts, money handling, sales of complex retail products, advertising/marketing, outside business activities, customer complaints, and unauthorized access.