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Financial Management Division Phone-In Half-Day Educational Conference
On September 17, 2008, the Financial Management Division conducted a phone-in half-day conference which featured recent accounting developments, updates on tax issues, the impact of various regulatory issues and included remarks from the CFTC and AICPA Expert Panel. |
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SEC Proposal to Switch from GAAP to IFRS
On August 27th, the SEC announced a plan to shift all listed companies in the United States from “GAAP” (Generally Accepted Principles of Accounting) to “IFRS” (International Financial Reporting Standards and set forth a roadmap by which the SEC could mandate the use of IFRS for all US issuers beginning in the 2014 fiscal year. An evaluation of the roadmap will be done in 2011 and the SEC may at that time adopt a phase-in for compliance with the new standards for some firms. |
Article by: Danielle Paul |
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IA Compliance Fall 2008 Conference
Philadelphia, PA - September 22-23, 2008
On September 17, 2008, the Financial Management Division conducted a phone-in half-day conference which featured recent accounting developments, updates on tax issues, the impact of various regulatory issues and included remarks from the CFTC and AICPA Expert Panel. |
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When to accrue an expense and corresponding liability
All broker dealers must maintain their financial information on an accrual accounting basis. The question is what is accrual accounting? Generally Accepted Accounting Principles (GAAP) defines accrual accounting as matching revenues with expenses for a particular period. However, this theory known as the matching concept sometimes causes an item in the balance sheet not to meet the definition of a liability. |
Article by: Stephen Sussman |
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What is a Successor Registration?
A successor is an unregistered entity that assumes and continues the business of a registered broker-dealer or investment advisor, which then ceases its broker-dealer or advisory activities. The provisions of the SEC Act of 1934 and the Investment Advisors Act of 1940 allow for the successor to operate without an interruption by filing a successor registration. |
Article by: Lisa Sussman |
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SEC Examination Findings – Investment Advisors
The Securities and Exchange Commission staff conducts compliance examinations of federally registered investment advisors to identify deficiencies and weaknesses in compliance and supervisory controls. Recent examinations have provided insight into deficiencies in several areas such as Code of Ethics, Proxy Voting, Valuation and Liquidity in High Yield Municipal Bond Funds and Soft Dollar Practices. |
Article by: Renee Hall |
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Notes from the Chicago Small Firms Conference – 9/23/2008
On September 23, 2008 I attended the last 2008 FINRA Small Firms conference. If you have not had the chance to attend one of the Small Firms Conference, I highly recommend them as they really focus the program on best practices and issues for smaller firms. In addition, it is a good opportunity to speak with compliance people from other small firms about the challenges they face and how they cope. |
Article by: Laura Crosby-Brown |
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Employee Spotlight
Regulatory Compliance welcomes
our newest team members
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Kathryn Hughes
Compliance Representative
Assistant |
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Kristen Hargreaves
Administrative Assistant |
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The Compliance Exchange -
Online Store Delivers Quality Securities Exam Preparation
When you’re preparing for a securities licensing exam, you want easy access to high quality materials to gain the confidence and knowledge needed to pass. The Compliance Exchange, our new online store, offers premium exam preparation textbooks and software that are designed for this purpose. Check out our online offerings of comprehensive, well-written exam preparation materials. You can also: Preview a detailed table of contents and sample chapter for each textbook, take a trial exam by downloading a software demo, and, view sample questions and screenshots.
www.ComplianceXchange.net |
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