Resources/ Updates - August 2016

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.

Aug30

SEC’s Principal Trading Rule Will Expire Year End

On August 19, 2016, the Securities and Exchange Commission (SEC) decided to allow a temporary rule that eases principal trading requirements for certain financial advisers to expire at the end of this year. Under Rule 206(3)-3T, temporarily adopted in 2007, investment advisers that are also registered as brokers can “conduct principal trades for clients in

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Aug24

Do You Understand Performance Claims When Investing?

A new Investor Bulletin from the Office of Investor Education and Advocacy at the SEC educates investors on how to interpret the claims in marketing materials or live presentations related to investment performance. Before making an investment, consider how performance is both calculated and presented. Evaluating Fee Calculations  Fees: You will likely pay certain fees

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Aug23

Should Changes to Gift Rules for Broker-Dealers Fly?

FINRA wants to edit and augment its Gifts, Gratuities and Non-Cash Compensation Rules. These rules seek to prevent impropriety and preserve a broker-dealer’s duty to act in the best interests of each customer. FINRA proposes to amend Rule 3220 (Influencing or Rewarding Employees of Others) (the Gifts Rule), which currently prohibits any member broker-dealer or

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Aug06

CFTC Duo on Cross-Border Swap Rules

On August 4, 2016,  the Commodity Futures Trading Commission (CFTC) issued two actions on how rules related to the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd Frank) apply to cross-border transactions. Remand Order Final Response: The CFTC issued a Final Response to the District Court Remand Order in Securities Industry and Financial Markets Association,

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Aug04

FINRA Podcast ~ Recap for July 2016

On Tuesday, August 2, 2016, FINRA posted a new podcast to cover the latest FINRA Notices, compliance resources, and news impacting their member broker-dealers. Go to FINRA July 2016 Podcast   About Us Formed 1952, The SDDCO Group of accountants and consultants (www.sddco.com) delivers outsourced professional support to the financial services and technology sectors. Our menu

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Aug04

Broker-Dealers in Treasury Securities ~ FINRA Proposes TRACE Reporting Change

On July 18, FINRA filed a proposed rule change with the SEC to expand the Trade Reporting and Compliance Engine (“TRACE”) reporting rules.  If approved, all FINRA member broker-dealers involved in U.S. Treasury Securities (defined in the TRACE rules) must report most transactions in those securities (other than US savings bonds) to TRACE. This proposal

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Our inaugural firm began
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We faithfully maintain the CPA standards: integrity, competency, confidentiality….

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