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 Municipal Securities Rulemaking Board (“MSRB”) filed a rule change with the Securities and Exchange Commission (“SEC”) on July 22, 2014, to require that dealers provide Firm Element continuing education annually on “municipal securities for registered representatives and principals who regularly engage in or supervise, respectively, municipal securities activities.” Since the inception of MSRB Rule
Monica McGinley, Esq. recently joined SDDCO Regulatory Services LLC (“SDDCO-RS”) to oversee SDDCO’s outsourced regulatory compliance support program for investment advisers. In her role as Director, Monica leads advisers through SEC and state registrations, develops customized compliance manuals, and performs as the designated Chief Compliance Officer. Related Document SDDCO Announces New Hire Monica McGinley, Esq., Director of Investment Adviser Compliance
School’s out for summer. For many parents this means paying for your kids’ day camp or day care while at work. Such work associated childcare costs might qualify you for a federal tax credit. Consider 10 IRS tax tips on getting a Child and Dependent Care Tax Credit (“CDC Credit”): 1) CDC Credit applies to the cost for caring for qualifying person(s) as
SDDCO Brokerage Advisors, LLC (“SDDCO-BA”) [Member: FINRA/SIPC] of The SDDCO Group announces the hire of senior executive Don McGuire to provide advisory and capital raising services to growth and middle market companies across all industries. Don’s exceptional track record of operations management and business growth in domestic and international markets was built on his ability to quickly
The ninth annual Investment Management Compliance Testing Survey discovered that 75% of those polled rated cybersecurity as “the most concerning compliance topic of 2014.” The survey, polling 369 compliance offers of advisory firms, was conducted by the Investment Adviser Association (IAA), ACA Compliance Group, and Old Mutual Asset Management. “An exceptionally large segment of the
“Every day, FINRA processes over 30 billion transactions and monitors nearly 6 billion shares traded in U.S.-listed equities markets.” Learn more about FINRA’s current and potential technology power from Steven Randich’s informative slideshow linked below. Steven Randich, FINRA Executive VP and CIO, presented at the June 17, 2014 SIFMA Technology conference on the topic of Big
The SEC’s Division of Investment Management (“IM Staff”) released guidance for the summary section of mutual fund disclosures. IM Staff reminds fund managers that a “summary” should be just that, and not a reiteration of the information of risks and investment strategies from the prospectus. They clarify that mutual fund disclosure summaries should be brief
The Public Company Accounting Oversight Board (“PCAOB”) released staff guidance to help auditors of brokers-dealers to perform according to PCAOB standards as required by SEC rules and the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd Frank”). The guide covers how audits can be scaled to apply PCAOB standards based on the size and
The National Futures Association (the “NFA”) anticipates launching its inaugural examinations of Swap Dealer (“SD”) and Major Swap Participant (“MSP”) member firms. The regulatory exams will be based on NFA rules that incorporate Commodity Futures Trading Commission (“CFTC”) regulations pursuant to Section 4s of the Commodity Exchange Act. In an NFA hosted audio conference on
The Commodity Trading Futures Commission Division of Market Oversight (“CFTC Staff”) issued a no-action letter extending the relief in no-action letter 13-34, from the expiration date of June 30, 2014 to June 30, 2015. The relief for Swap Dealers (SDs) and Major Swap Participants (MSPs) delays their obligation to report valuation data for cleared swaps,
The National Futures Association (“NFA”) informs members of their obligation to appropriately designate a new Chief Compliance Officer (“CCO”) when the officer in place resigns of retires. NFA notice to members I-14-17 details the CCO designation requirement of Swap Dealers (“SDs”) and Major Swap Participants (“MSPs”) within Commodity Futures Trading Commission (“CFTC”) Regulation 3.3. CFTC Registered
To further protect personal and confidential information (“PCI”) during a FINRA arbitration process, the SEC approved amendments to the Codes of Arbitration Procedure. Specifically, “FINRA amended Rules 12300 and 13300 (Filing and Serving Documents) to provide that, in an electronic or paper filing with FINRA, any document that contains an individual’s Social Security number, taxpayer