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 approved MSRB Rule G-18 to enhance pricing protections under long-standing MSRB rules with a one-year implementation date. Overall, the new “best-execution” rule, effective December 7, 2015, will require muni dealers to: Seek the “most favorable terms reasonably available for their retain customers’ transactions” Establish explicit standards for how dealers handle and execute customer orders for
The SEC is amending rule 206(3)-3T, a rule that temporarily established an alternative means for investment advisers also registered as broker-dealers to meet the requirements of section 206(3) of the Investment Advisers Act when they act in a principal capacity in transactions with certain advisory clients. This amendment extends the sunset date for rule 206(3)-3T
Due dates are approaching on the regulatory reporting required of broker-dealers (“BDs”) associated with 4th quarter (ending December 31, 2014) and of BDs with a financial year-end of December 31st 2014: 01/27/2015: FOCUS Report 01/27/2015: Schedule I 01/30/2015: SSOI 01/30/2015: SIS (where applicable) 01/27/2015: Form Custody 02/03/2015: OBS (where applicable) 03/02/2015: SIPC-7 03/02/2015: Annual Audited
On November 19, 2014, the SEC unanimously approved the Regulation Systems Compliance and Integrity (Reg SCI) intended to fortify the technology infrastructure of the U.S. securities markets. The new rules, a reaction to increasing dependence on technology, are designed to reduce the chances of a system glitch and mitigate them swiftly as to disturb the
December is a busy time for business managers and owners, professionally and socially. To reduce the stress of transitioning your firm into the new year, refer to the following general, year-end checklist when planning the closure of the company books and records: 1. Ensure that all vendor bills are posted by the year-end close date. 2. Invoice your clients to
Yesterday, the National Futures Association (“NFA”) released a notice regarding the annual affirmation requirement. In compliance with the Commodity Futures Trading Commission (“CFTC”) anyone claiming an exemption from CPO registration under CFTC Regulation 4.5, 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5), or CTA registration under 4.14(a)(8) from must file an application. The annual application deadline is 60 days
The Firm Element Advisory prepared by the Securities Industry Regulatory Council on Continuing Ed (“CE Council”) presents guidance on regulation and sales practice issues for broker-dealer firms to consider addressing in their Firm Element continuing education programs. This week, FINRA posted the first of three podcasts covering the Fall 2014 Firm Element Advisory from the CE Council.