• In response to the COVID-19 crisis, the Division of Investment Management has also encouraged firms to "evaluate their business continuity plans."1 The SEC is conducting sweep exams focused on Business Continuity Plans ("BCP") with precise attention to the continuation of operations during the COVID-19 pandemic. Furthermore, regular examinations may include more focus on the firm's BCP at this time. ...

  • As tax season is in full swing, so are tax scams. It is important to remain vigilant as possible during tax season to protect you and your firm against potential tax fraud. Historically, taxpayers lose a considerable amount of money each year due to tax scams. The IRS identified $1.8 billion of total tax fraud during the most recent fiscal year. SDDco-PC offers both accounting and tax compliance services to help you secure your financial future. ...

  • Pursuant to FINRA Regulatory Notice 17-30, all Broker-Dealers are required to designate a Principal Operations Officer “POO” and Principal Financial Officer “PFO”. This requirement replaces the current requirement that dual members of FINRA and the NYSE designate a Chief Financial Officer (CFO) and a Chief Operations Officer (COO) and that other FINRA members designate a CFO....

  • If your firm plans to conduct securities transactions and business with the investing public in the United States, it needs to be registered with FINRA. In order to become a FINRA-registered broker-dealer, certain membership standards must be met regardless if you are a broker-dealer or a FinTech firm....

  • Out with the old and in with the new? Reforms are designed to update rules to reflect changes in technology, the expectations of investors seeking advisory services and the evolution of industry practices. The SEC has proposed to modify communications that would qualify as "advertisements" to improve the quality of information available to investors, enabling them to make more informed decisions. The proposed reformation would permit the use of testimonials, endorsements and third-party ratings ...

  • While social media by itself may not seem like a threat to your business, ignoring best practices around cybersecurity makes it easy for scammers to exploit your firm’s data. Neglecting privacy settings invites cybercriminals to use personal information in ways that could be detrimental to the security and reputation of your firm. In fact, more than one in eight enterprises have suffered security breaches through a social media cyberattack....

  • While social media by itself may not seem like a threat to your business, ignoring best practices around cybersecurity makes it easy for scammers to exploit your firm’s data. Neglecting privacy settings invites cybercriminals to use personal information in ways that could be detrimental to the security and reputation of your firm. In fact, more than one in eight enterprises have suffered security breaches through a social media cyberattack....

  • Examiners are focused on cyber and data risk management more than ever. A Chief Compliance Officer (CCO) ensures that a firm is complying with regulatory requirements and that the firm and its employees are complying with internal policies and procedures. However, with all the focus from the SEC and FINRA on cyber, just managing policies and procedures is not enough....

  • Many firms are concerned with the expense and administrative load associated with fulfilling the role of a CCO. Broker-Dealers and RIA’s may consider forming an alliance with an outsourced firm to address some of their internal concerns while filling this role. Communicating with regulators is an art, the right outsourced partner can bring the competence and knowledge required to build and support your operation and oversight of your firm’s compliance program....

  • Are you a broker-dealer who keeps their financial operations functions in-house? Are you interested in cutting operating costs and increasing efficiency? Could your firm benefit from broader and deeper knowledge?...

WHO WE SERVE

“When you hire SDDco, you benefit from the talent and expertise of the entire firm rather than that of an individual practitioner more limited in scope and resources.”

 

SCOTT DANIELS

Chairman and Founder