Resources/ Updates - November 2014

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.


Grow Your Financial Firm with Proven Outsourced Talent ~ SDDCO Panel Recap

On November 12, 2014, The SDDCO Group of accountants and consultants and Erado Message Control Solutions (“Erado”) co-sponsored a panel discussion at the Cornell Club in NYC to address how financial services firms can both conserve and expand by outsourcing to or aligning with industry experts. Social Media Compliance Solution Larry Goldfarb, Director of Sales at Erado supplied a

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Should FINRA Up Price Info on Fixed Income Securities Confirms?

According to FINRA, under current disclosure requirements, investors in fixed income securities may be limited in their capacity to understand and compare transaction costs. To remedy this, FINRA proposes to amend FINRA Rule 2232 to “require customer confirmation disclosure of same-day pricing information for customer retail size transactions in corporate and agency debt securities. FINRA requests

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Broker-Dealers Tick Tock ~ Can FINRA Tighten the Business Clock?

This proposal is one of seven FINRA initiatives on equity market structure and automated trading activities, (including high frequency trading or HFT) aiming to increase the trading info FINRA receives, provide more transparency into trading activities, and require that related professionals be trained and accountable for their role. FINRA proposes to tighten the requirements for

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Tis the Season for Charitable Giving ~ 6 IRS Deduction Tips

Many donations are made during the holiday season.  To claim a gift tax deduction, be sure to itemize your deductions, and keep these six IRS giving tips in mind. 1. Qualified Charities: You may deduct for qualified charities only. Check your charity at the IRS Select Check. You may deduct donations to churches, synagogues, temples, mosques

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Broker-Dealer PCAOB 2014 Accounting Support Fees Are Due

Many broker-dealers received a bill from the Public Company Accounting Oversight Board (“PCAOB” or “Board”) last week for annual accounting support fees.  Broker-dealers meeting the PCAOB funding criteria were invoiced on Wednesday, October 29, 2014 and payment is due 30 days later, on or before Friday, November 28, 2014. The PCAOB oversees the audits of broker-dealers

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2015 Renewals for Investment Advisers & Broker-Dealers ~ Deadline Dec. 12th

The payment deadline for the 2015 Renewal Program of Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative, and Branch Renewals is December 12, 2014. FINRA registered firms that ignore the payment: Will incur late fees if the payment is not received by the deadline May become ineligible to continue business operations in the jurisdictions they

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Penny Stock Scams ~ Investor Alert

Last week, the SEC’s Office of Investor Education and Advocacy and FINRA issued an alert to investors regarding penny stock scams. Fraudsters are aggressively marketing the stocks of dormant shell companies with little to no business operations as great opportunities in the form of penny stocks. The fraudsters engage in a pump-and-dump scheme where they

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Broker-Dealer Registration: Demystifying the Process

The SDDCO Group, longstanding providers of outsourced professional support to the financial services industry, is proud to announce the release of BNA Portfolio Broker-Dealer Registration: Demystifying the Process.  This informative guidebook covers the regulatory and business considerations of starting and registering a new broker-dealer, including constructing a detailed business plan, launching the FINRA application, drafting written

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The SDDCO Group ~ Year-End Tax Client Letters 2014

Halloween is behind us and Turkey Day and the December holidays are just around the bend.  As 2014 wraps up, take time to reduce your 2014 tax bill and plan ahead for 2015. The attached client letters highlight many potential tax-saving opportunities for individuals and owners of businesses to consider.   The SDDCO Group ~ Year-End Tax Client Letters 2014:

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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