Resources/ Updates - June 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.


Limited Purpose Broker-Dealer Project

“A Few Minutes with FINRA”, an interview series now available on the FINRA website, focused on limited purpose broker-dealers this week. FINRA’s Chief Legal Officer, Robert Colby, said the project underway aims to simplify the rulebook for smaller BDs that don’t touch funds and securities and do play a limited role. Colby explained that many

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SEC Proposes Money Market Reform

The SEC proposed, on June 5th, two alternative reforms altering how money market funds (MMFs) operate– to be adopted singly or in combination. The proposals aim to reduce a MMF’s vulnerability to heavy redemptions during times of stress, preserve potential benefits for investors and the short-term financing markets, and increase the transparency of risk. Option 1)

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ObamaCare: Size Matters

As of January 1, 2014, the Affordable Care Act (“ObamaCare” or the “ACA”) will implement mandatory policy regarding health coverage.  All large firms (with 50 or more fulltime or fulltime equivalent employees)  must offer its fulltime employees (“EEs”) affordable, minimum-value health care coverage or otherwise pay an annual penalty. What you should know: The annual

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EDGAR Filer Manual for Advisers Updated

The SEC has now adopted revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and rules on updates to this system.  As of May 20, 2013, the EDGAR system supports these functions: The new online version of Form 13F; PDF format for other submissions, and US GAAP 2013 Taxonomy. Form 13F

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Change in the Forecast for BD Auditing

As keynote speaker at the 32nd annual SEC and Financial Reporting Institute Conference on May 30th, Commissioner Elisse Walter addressed the role of the Public Company Accounting Oversight Board (“PCAOB” or the “Board”) regarding auditor reporting standards, generally, and broker-dealers audits, specifically. Walter applauded the PCAOB’s focus on auditing accounting estimates (fair value measurements), but

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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