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.
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
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
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
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,
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
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