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Do You Need to File a Change of Membership Application?
We frequently receive calls from clients with requests for seemingly simple tasks like Form BD amendments or U4 filings, which may require a Change of Membership Application (CMA) pursuant to NASD Rule 1017. |
By: Lisa Sussman |
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Duties and Responsibilities of the Chief Compliance Officer
for Investment Advisers
Within the legal framework of securities regulation, the role of the chief compliance officer (CCO) is often laden with a great deal of responsibility for firm-wide operations. Such responsibilities include administering and enforcing written supervisory procedures, assessing operational risk, and presenting practical solutions to complex problems. More often than not, the CCO is part of the sales team, advisory staff... |
By: Kristen M. Hargreaves |
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Changes in Cost Basis Reporting
Beginning January 1, 2011, prior to the sale of an investment, your clients will need to consider the tax implications and make decisions on whether to use a FIFO (first-in, first-out), average cost or a specified holding method for determining cost basis, because the method chosen cannot change after the trade settles. Most brokerage firms will use the default that is on your account, which generally is first-in... |
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Outside Auditors and Other Year-End Considerations
The weather is brisk, the holiday season will soon be upon us and December 31, the day that marks the end of the accounting year for many of you, looms quietly around the corner. As we tend to get busier in our personal lives at this time of year, it is easy to lose track of the importance of being prepared for the annual closing of the books. Amidst this seasonal clamor, Regulatory Compliance is here to remind you that planning...
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FINRA Boston District Office Preventative Compliance Meeting
In September, the FINRA Boston District office held its preventive compliance meeting in Boston, Massachusetts. Regulators from FINRA Advertising Regulation and the FINRA Boston District Office were on hand to discuss the FINRA Examination Program and Regulation D Private Placement Offering Requirements; however, the majority of the discussion was focused on communications with the public. |
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Changes to BrokerCheck
BrokerCheck is a free tool provided by FINRA to help investors research the professional backgrounds of current and former FINRA-member brokerage firms and representatives. Effective August 23, 2010, FINRA implemented changes to this service to make additional information about brokers, and former brokers, available. |
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Connect with us |
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New Employee Spotlight |
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Rob Marchinkowski
Sales & Service Rep.
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Don't Miss Important Updates!
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