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 time to comply with NFA cybersecurity rules is now. Starting March 1, 2016, each National Futures Association (NFA) member firm is required to “adopt and enforce an information systems security program (ISSP) appropriate to its circumstances.” In October 2015, the NFA issued a Notice to Members announcing the Commodity Futures Trading Commission’s (CFTC) approval of NFA’s Interpretive Notice
Starting May 16, 2016, companies will be able to use crowdfunding to sell securities to the public over the Internet. Investors should know all they can about the process and the pitfalls before parting with their dough. The SEC’s Office of Investor Education and Advocacy issued a new Bulletin to educate investors on securities-based crowdfunding and the
Broker-dealer audits have gone though some major changes in the last two years. As always, knowledge is power, and good preparation is the key to destressing and your firm’s audit success. The SDDCO Group (“SDDCO”) has assembled the nuts and bolts of the process. Know How to File Each year, broker-dealers registered under Section 15
In 2016, new regulations from the Municipal Securities Rulemaking Board (MSRB), including core conduct standards, will take effect to improve equity and efficiency in the municipal securities market. Core Standards of Conduct for Municipal Advisors The most significant new rule, MSRB Rule G-42—aka the Conduct Rule—creates core standards of conduct and duties of non-solicitor municipal advisors
The National Futures Association (“NFA”) issued four recent notices to members regarding filing requirements: Notice I-16-06: FATF-identified jurisdictions with AML/CFT deficiencies. Notice I-16-02: NFA implements enhancements to the CPO Form PQR Notice I-16-03: NFA Bylaw 1101 and Compliance Rule 2-36(d) Notice I-16-01: Revised SD and MSP 4s review process Notice I-16-06 (Jan. 28, 2015): FinCEN