Resources/ Updates - May 2013

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 website. Always check with your accountant and/or attorney.


Private Fund Predicament

Are some private funds breaking the law?  In April, David Blass, chief counsel of the SEC division of trading and markets warned an ABA subcommittee that some private funds might be breaking the law when their employees or agents sell to investors.  Associated personnel of private fund managers—unless satisfying the SEC conditions for exemption—are required to

Read more >


EZ Tax File Method for a Home Office

Effective 1/2013, the IRS gives taxpayers a simplified, “safe-harbor” method for calculating the deduction amount for expenses related to an eligible home business. What’s an eligible home business? According to IRS Code 280A, a home business or office is: The primary place a taxpayer exclusively and regularly conducts trade or business An office attached to the

Read more >


QuickBooks Software Upgrades

For SDDCO clients using QuickBooks software: SDDCO provides the service of installing upgraded Intuit QuickBooks software Intuit does not support QuickBooks software older than 3 years On May 31, 2013, access to Intuit add-on services will be discontinued for QuickBooks Premier Accountant Edition 2010 and all other 2010 editions 50+ SDDCO client firms are due

Read more >


A Dozen Q&A for FINRA Rule 2210

Internal Communications Q1 Does “internal” communication include training material prepared for use with registered reps of affiliated B-Ds? No, that’s not internal. Any material drafted to train or educate registered reps of other B-Ds (affiliated or not) is an institutional communication. Principal Approval Q2 If a firm distributes a non-independent, third-party research report only to

Read more >


BD Communication Tune-up

FINRA’s renovation of its rules for broker-dealers’ communications with the public (put in effect February 4, 2013) reduced 6 categories to these 3: Correspondence, Retail Communications, and Institutional Communications. Correspondence:  ANY written communication, including electronic, distributed or made available to 25 or fewer retail investors within any 30 calendar-day period is considered a Correspondence. These communications should comply

Read more >


SEC Approves Social Media…

if Investors Are Alerted First. The SEC Report of Investigation (“the Report”), April 2, 2013, approved public company use of social media outlets to announce key information that complies with Regulation Fair Disclosure (“Reg FD”) if investors know which social media channel will be used. From the SEC Commission Report: More public companies use social

Read more >


SDDco specializes
in two industries.

Our know-how and our network supports the financial services & tech industries.

We hold the right training and licensures to keep you in step and mitigate risk.

Our Credentials


SDDco supports
industry leaders.

We oversee back office functions so you can focus on your own clients.

Major banks, private funds, RIAs, BDs, and tech startups choose us.

Our Clients


SDDco is as good
as its great people.

Our CPAs, FinOps and
consultants are licensed,
experienced professionals.

Partner with us for start-ups and for ongoing accounting, compliance and tax work.

Our People


SDDco performs
services onsite.

Outsourced support with
SDDco isn’t out of sight.

We work in your space and for your team on a regular basis. Engage the expertise without the fulltime hire.

Our Praises


SDDco observes
AICPA principles.

Our inaugural firm began
when two CPAs opened
a NYC office back in 1952.

We faithfully maintain the CPA standards: integrity, competency, confidentiality….

Our Group