The SDDco Client Update
The SDDco Client Update is an action oriented email prepared in-house, tailored to client needs, and sent as an adjunct to our online newsletter. Verified newsletter subscribers receive our Client Update once each month.
The SDDco Client Update is intended to provide general information only. It is not intended as, and should not be taken as, financial, tax, accounting, legal, consulting or any other type of advice specific to you or your firm. Users of the SDDco Client Update should not act or refrain from acting on the basis of information provided on the sddco.com website. Always check with your accountant and/or attorney.
The SEC’s National Exam Program (NEP) (“The Program”) identified the following as emerging issues for investment adviser: Registered Advisers ~ initiative focus New Registrants: Per Dodd-Frank, 2,000 IAs are newly registered with the SEC. Most are advisers to hedge and PE funds never before regulated by the SEC. A national examination initiative intends to establish presence
The National Exam Program (NEP) of the SEC released Examination Priorities for 2013 to cover high risk issues at financial institutions. NEP initiatives include fraud detection; corporate governance, enterprise risk management, conflicts of interest, and technology. The NEP IA/IC Program (the ‘Program”) will focus on these Investment Advisers (IA) and Investment Companies (IC) issues in
Read about BD registration and exemption under the Jobs Act. Feb. 5th the SEC posted replies to FAQs on Broker-Dealer Registration under Title II of the Jobs Act. Backfill: April 5, 2012, President Obama enacted the Jumpstart Our Business Startups (JOBS) Act. The Act required the SEC to write rules and perform studies on capital formation,
(Rule 4524 Update) The SEC approved a supplemental schedule for carrying and clearing firms. The OBS is a supplemental schedule for derivatives and other off-balance sheet items Find doc at www.finra.org/notices/13-10 First filing: (info as of 6/30/13) on or before 7/31/13 Backfill: Each firm, as FINRA shall designate, must file additional financial or operational schedules or reports as FINRA
(Rule 4530 Requirements) Note 2013 due dates for customer complaint quarterly reporting. 1st quarter: April 15, 2013 2nd quarter: July 15, 2013 3rd quarter: October 15, 2013 4th quarter: January 15, 2014 FINRA requires member firms to report: Quarterly stats and summaries on written customer complaints and specified events (all findings by a regulatory body).
(Rule 4530 Amended) Two new options can speed BD reporting of disciplinary events. Firms can opt to X a box in CRD to satisfy reporting of events: criminal, regulatory, civil judicial and customer complaint /arbitration/ civil litigation. Goal? To eliminate duplicate reporting. Firms can soon opt to E-file required reporting documents on Firm Gateway. New