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 October 21, 2016, Timothy Massad, a chairman of the Commodity Futures Trading Commission (CFTC) discussed his thoughts on these areas of CFTC focus at the Managed Funds Association Outlook 2016 Conference: Global implementation of uncleared margin rules Capital requirements for swap dealers and major swap participants, Automated trading Swap trading The Financial Stability Oversight
There’s still time to reduce your 2016 tax bill and plan ahead for 2017. The attached client letters highlight many potential tax-saving opportunities for individuals and owners of businesses to consider. Also, visit our monthly Tax Newsletter for useful tax planning articles: http://sddco.com/resources/newsletters/ The SDDCO Group ~ Year-End Tax Client Letters 2016 SDDCO YEAR-END TAX CLIENT LETTER 2016
That hush-about-us language in your hire agreement, compliance manual or severance package just might be in violation of key SEC whistleblower rules. A National Exam Risk Alert from the Office of Compliance Inspections and Examinations (“OCIE Staff”) lets broker-dealers and registered Investment advisers (“registrants”) know that the SEC is onto this. OCIE Staff is actively
In August 2016, the Securities Exchange Commission (“SEC”) approved FINRA’s Capital Acquisition Broker (CAB) Rules—a new member category—to ease the reporting obligations of broker-dealers engaged in certain limited activities. The CAB Rules effective dates have been set for January and April of 2017. Of interest to broker-dealers in deciding whether to elect CAB status,
As part of its initiative to increase its oversight of the asset management industry, on Thursday, October 13, 2016, the Securities and Exchange Commission (SEC) adopted liquidity and disclosure rules required of registered investment companies and open-end funds, including mutual funds and exchange-traded funds (ETFs). SEC Chair Mary Jo White, stated: “These new rules represent a
FINRA provides a recap of its latest FINRA Notices, compliance resources, and news in a monthly podcast. Takeaways from the September 2016 FINRA Podcast include: 1) FINRA’s New Firm Element Advisory Webpage: The Firm Element (in-house training): broker-dealers must to conduct a Needs Analysis, and develop a written plan each year befitting the size and
As of October 3, 2016, a new National Market System (NMS) Plan to implement a Tick Size Pilot Program (“Pilot”) will widen the minimum quoting and trading increment or “tick size” for some small capitalization stocks. The goal of the two-year Pilot is to study the effect of tick size on liquidity and trading of
On October 5, 2016, Commissioner J. Christopher Giancarlo of the U.S. Commodity Futures Trading Commission (CFTC) released a Podcast entitled “21st Century Markets Need 21st Century Regulation.” The podcast follows the Commission’s recent address to the American Enterprise Institution and concerns the following topics: 21st Century Digital Transformation; The Digitization of Financial Markets; CFTC Caught in Analog Time
The Municipal Securities Rulemaking Board (“MSRB”) issued three recent member updates that could be of interest to SDDCO clients: (1) MSRB Requests Comment on Establishing Continuing Education Requirements for Municipal Advisors (2) MSRB Improves Bank Loan Disclosure on EMMA Website (3) MSRB to Facilitate Municipal Market Research with New Academic Data Product On Establishing Continuing
The SDDCO Group of accountants and regulatory compliance consultants will participate in the following 2016 Fall conferences. Stop by and say hello! 2016 NSCP National Conference at the Omni Shoreham Hotel in Washington, DC, Booth 35, Oct. 16-19 Meet SDDCO members: Hale Halasy and Gary Fox Focus: to further the professional growth of compliance professionals:
The SEC’s Office of Compliance Inspections and Examinations (OCIE), FINRA, and the MSRB will jointly hold a Compliance Outreach Program for Municipal Advisors on Thursday, November 10, 2016, as a live webcast on the MSRB website from 3:00 p.m. to 4:30 p.m. Eastern time. “The webinar will highlight OCIE and FINRA staff examination findings on