Services/ Broker-Dealer Registration & Compliance

SDDCO Regulatory Services (SDDCO-RS) gives expert compliance guidance and onsite assistance to emerging securities firms and existing FINRA member broker-dealers. Our compliance consultants facilitate your startup and support ongoing adherence to all applicable requirements of the Financial Industry Regulatory Authority (FINRA), the U.S. Securities and Exchange Commission (SEC) and other regulatory authorities.

We do not sell one-size-fits-all compliance publications or anything “off-the-shelf”, and clients confirm that our customized method works best.   According to your business needs, we can be engaged for compliance service projects or retained for ongoing service.

Broker-Dealer Registration Services 

FINRA Applications 

New Membership Application

If you plan to establish a new broker-dealer, partner with SDDCO-RS to streamline the painstaking process of preparing and filing your FINRA New Membership Application (NMA).  We can help you accomplish the timely submission of a complete NMA including:

  • A carefully constructed business plan
  • Requisite standardized forms
  • Various procedures manuals
  • Biographies of your principals
  • Preliminary financial statements
  • Projections for first 12 months of fixed operating expenses
  • Interface with FINRA examiners
  • Responses to information requests

Continuing Membership Application

If you plan to buy, sell or restructure your broker-dealer ownership or expand into additional business lines, call upon SDDCO-RS to manage your FINRA Continuing Membership Application (CMA) in accordance with NASD Rule 1017.  We can:

  • Lead you through the application process
  • Draft your application letter, any additional procedures and process the required forms
  • Help you gather and assemble the required FINRA information
  • Respond to any additional documentation requests

Broker-Dealer Compliance Services 

Retainer service options includes weekly, semimonthly or monthly onsite visits and interim support via phone, email, webinars and conference calls.

We begin each engagement by collaborating with management to develop an inventory of applicable compliance requirements within your firm.  We then peg the status of each requirement and plan strategies to achieve ongoing compliance.  Our retained compliance services include:

Working with Regulators

Whether part of your  firm’s normal course of business or during your FINRA Examination, SDDCO-RS compliance professionals can assist your senior management by working closely with you or your firm’s legal counsel to draft correspondence with regulators.  By interacting extensively with FINRA staff on client applications and sales practice examinations, our professionals have developed strong working relationships, which fosters efficient and effective communication with regulators.  We understand how FINRA works and what is expected, and they know and trust our competencies and work products.

Registrations and Licensing

SDDCO-RS can serve as your FINRA Web CRD Administrator or assist your firm’s designated Web CRD Administrator to accomplish the following:

  • Advise designated parties of relevant CRD requirements
  • Perform the required annual review of FINRA Contact System
  • Monitor regulatory element training requirements
  • Facilitate exam scheduling, fingerprint cards and other CRD administrative requirements
  • Assist with Blue Sky filings

Annual Compliance Meeting

SDDCO-RS can develop the relevant content for your annual compliance meeting and help your CCO deliver and document the meeting onsite.  Relevant content includes a detailed agenda for the meeting, required disclosures to be completed by each attendee and time sensitive handouts to be discussed at the meeting.

Policies & Procedures

FINRA and the SEC require that policies and procedures are implemented within your company to help you accomplish your ongoing compliance with all applicable rules, which include FINRA, SEC, SIPC, MSRB and state rules relevant to your securities business.

Our onsite consultants can expertly support the foundation, modification and documentation of internal policies and procedures—the keystone of effective compliance.  Through close contact with your supervisory staff, we can steer the development, customization and amendment of the following policies, procedures and manuals:

  • Written Supervisory Procedures
  • Anti-Money Laundering Procedures
  • Continuing Education Program
  • Business Continuity Plan

Supervisory Controls

Broker-Dealers are expected to establish procedures whereby they test and verify their compliance with all applicable rules.  SDDCO-RS can orchestrate your compliance with Rule 3012 regarding supervisory control systems as follows:

  • Inventory all products or businesses
  • Investigate your firm’s specific internal control requirements
  • Identify gaps between industry rules and your existing supervisory procedures
  • Review the compliance procedures and timetables expected of supervisors
  • Suggest updating your procedures or adopting a new supervisory process

Disclosures & Certifications

SDDCO-RS can deliver customized attestation and disclosure forms to make known the following:

  • Outside accounts & personal trading
  • Outside business activities
  • Private securities transactions
  • Form U4 information
  • Pre-dispute arbitration

Business Continuity Planning

Broker-Dealers are required to have a written business continuity plan (BCP) in place that identifies a firm’s procedures for responding to significant business disruptions.  SDDCO-RS can work with management to develop an effective and efficient plan designed to enable your firm to meet its obligations to customers.

Continuing Education

SDDCO-RS can provide the direction your staff needs to keep current with FINRA member continuing education training requirements.  Call on us to design an achievable program, which includes:

  • A Firm Element Needs Analysis to identify the training needs of your firm’s staff
  • A Firm Element Training Plan to describe the specific training and method of delivery

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FOCUSED SUPPORT

SDDCO specializes
in one industry.

Our knowhow, our network, past and present, support the financial services.

We hold the right training and licensures to keep you in step and mitigate risk.

Our Credentials

SUCCESSFUL CLIENTS

SDDCO supports
industry leaders.

We oversee back office functions so you can focus on your own clients.

Major banks, private funds, RIAs and B/Ds choose us.  SDDCO supports 140 B/Ds.

Our Clients

TOP TALENT

SDDCO is as good
as its great people.

Our CPAs, FinOps and
consultants are licensed,
experienced professionals.

Partner with us for start-ups and for ongoing accounting, compliance and tax work.

Our People

ONSITE OUTSOURCING

SDDCO performs
services onsite.

Outsourced support with
SDDCO isn’t out of sight.

We work in your space and for your team on a regular basis. Engage the expertise without the fulltime hire.

Our Praises

HIGH STANDARDS

SDDCO observes
AICPA principles.

Our inaugural firm began
when two new CPAs opened
a NYC office back in 1952.

We faithfully maintain the CPA standards: integrity, competency, confidentiality….

Our Group