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 Financial Industry Regulatory authority (“FINRA”) revised its proposal on requiring enhanced confirmation disclosure of pricing info in corporate and agency dept securities transactions. As such, FINRA wants feedback on revisions that would limit price disclosures to transactions with retail customers, enable alternate methodologies for calculating the reference price of complex trades, require TRACE links
There’s still time to reduce your 2015 tax bill and plan ahead for 2016. 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 2015: SDDCO YEAR-END TAX CLIENT LETTER ~ INDIVIDUALS 2015 SDDCO YEAR-END TAX CLIENT LETTER ~ BUSINESSES 2015
This month, Andrew Donohue, the Chief of Staff of the SEC, spoke at the National Regulatory Service’s annual compliance conference. Although Donohue noted early that he was speaking for himself and not necessarily the commission, the speech is pertinent since it reflects many recent actions by the SEC regarding the risks of working in compliance.
The National Futures Association (“NFA”) recently updated their required annual checklist with recent changes to Commodity Futures Trading Commission (“CFTC”) regulations and NFA rules. Member firms of the NFA are required to complete this thorough self-assessment each year to ensure compliance with NFA Rules and CFTC Regulations. Think really long list of didyas: Did ya
It’s no surprise that FINRA is proposing a rule and an amendment to further address the financial exploitation of the elderly and other vulnerable adults. Financial abuse of vulnerable elders is a dominant topic for good reason. Consumer Reports’ October front cover emphatically calls it “a crying shame” stressing the emotional toll of fraud on seniors.
Last week, the SEC approved a June proposal from FINRA that mandates all retail broker’s websites must prominently display a hyperlink to FINRA Broker Check. The approved proposal amends FINRA Rule 2210, which lays out the rules of communicating with the public. All FINRA members that service retail investors must display a link to BrokerCheck
Anyone who has heard of the panic after the famous broadcast of Orson Welles’s rendition of “War of the Worlds” should know not to believe something just because it’s on the radio. The Securities and Exchange Commission (the “SEC”) released an investor alert to remind investors to listen up and back off of radio fraud.
The U.S. Commodity Futures Trading Commission (“CFTC) recently published the following five press releases concerning rules and regulations for members: (1) CFTC’s Division of Market Oversight Issues Additional Time-Limited No-Action Relief from Electronic Reporting Requirements in the OCR Final Rule (2) CFTC Approves Supplement to Proposed Rulemaking to Modify the Aggregation Provisions of Its Position
At SDDCO, we’re serious accounting and compliance professionals but no strangers to industry humor. We even have a fish named FINRA. But why laugh alone. We’re sharing these ghoulish BrokerCheck TV spots to scare investors into checking their brokers…and to bring some Halloween humor your way! Gorilla Arms Breaker Breaker
The Municipal Securities Rulemaking Board (“MSRB”) issued five recent member updates that could be of interest to SDDCO clients: (1) MSRB Requests Comment on Lengthening Board Member Terms (2) MSRB Requests Comment on Requiring Disclosure of Mark-Ups (3) MSRB to Create Investor Advisory Group (4) MSRB Links Effective Date for Best-Execution Rule to Publication of Guidance (5) MSRB Seeks Approval
The Public Company Accounting Oversight Board (“PCAOB”) released on October 1, 2015, a Staff Inspection Brief covering PCAOB inspections of registered audit firms and their audits in 2015 along with the inspection plan, scope, and objectives. 2015 Cycle Exam During the 2015 inspection cycle, PCAOB staff will inspect approximately 220 registered audit firms, which includes
FINRA seeks comment on its proposed amendment to Rule 8312, which is known as the BrokerCheck Disclosure Rule. Under current rules, FINRA delays releasing information reported on Form U5 (Uniform Termination Notice for Securities Industry Registration) through BrokerCheck® until 15 days after filing. FINRA proposes shrinking that wait time to 3 business days. The 15-day