S.D. Daniels & Co., P.C. (SDDco-PC), a CPA firm and the founding entity of the SDDco Group, provides an outsourced solution tailored to the needs of broker-dealers. Every broker-dealer is required to maintain the services of a FINRA Series 27 Financial and Operations Principal (FinOp). SDDco-PC personnel can fulfill that role. A FinOp oversees the books and records and monitors a FINRA member firm’s adherence to industry net capital rules and related rules and regulations, as well as the filing of all financial regulatory reports.
Regulators permit a licensed, off-site individual to fulfill the FinOp role. Outsourcing this role financially benefits brokerage firms choosing to engage an experienced FinOp consultant instead of hiring that level of talent, full-time, in-house. In addition, rather than hiring one full-time FinOp, with SDDco-PC you have access to the full resource of all our FinOps and Accounting professionals with broad, on-going exposure to broker-dealer operations. As a CPA firm providing FinOp services since the 1980’s, SDDco-PC brings over three decades of experience to U.S. SEC registered broker-dealers of all sizes, as well as foreign based broker-dealers operating in the U.S. under the SEC exemption, Rule 15a-6. SDDco-PC can assume the FinOp function of your broker-dealer or assist with the functions of your in-house FinOp. An SDDco-PC FinOp can also assume the role of CFO.
An SDDco-PC FinOp can be engaged to perform and supervise all aspects of this mandatory function for FINRA member broker-dealers. Our FinOp services include managing financial duties, FINRA filings, technical assistance, and more.
Looking for a Principal Financial Officer (PFO) and Principal Operations Officer (POO)?
Pursuant to FINRA Regulatory Notice 17-30, all Broker Dealers are required to designate a PFO and POO.
SDDco-PC will assign a qualified series 27 licensed individual to be designated as your firm’s POO with primary responsibility of overseeing that the day-to-day operations of your business are properly supervised by assigned personnel. This includes overseeing of the receipt and delivery of securities and funds, safeguarding customer and firm assets, calculation and collection of margin from customers and processing dividend receivables and payables and reorganization redemptions and those books and records related to such activities.