Renewals - The annual renewal process for broker-dealer and investment advisors is winding down. Final renewal payments are due February 3, 2012.
Regulatory Compliance will be providing the firm with its Final Renewal Statements and payment reminders to our Compliance Partner and FINOP clients.
Annual Audit – The due date by which annual audit reports must be received by FINRA and the SEC are as follows:
Year-end Date
|
Due Date |
November 30, 2011 |
January 30, 2012 |
December 31, 2011 |
February 29, 2012 |
January 31, 2012 |
April 2, 2012
|
February 29, 2012 |
April 30, 2012 |
Audit reports must be submitted to FINRA by completing required information and uploading a PDF file containing all required schedules and the SEC cover page through the Gateway. SEC submissions must still be made in hard copy.
Note: Don’t forget to send an audit report to any states in which you are registered that require filing by their specified due date.
Auditors: All audits for broker-dealers need to be completed by a PCAOB member auditor. You can verify whether or not your auditor is a member by visiting www.pcaob.org. If your auditor is not a member, you will need to engage a new auditor to perform your audit for this and future years and will need to file a change of auditor notification through FINRA’s electronic notification system.
SIPC Assessment – SIPC collects an assessment from all SIPC member firms semi-annually via the SIPC-6 and SIPC-7 forms. This assessment is based on a percentage of the firm’s revenues directly or indirectly related to securities activities as reported on the firm’s FOCUS filings.
SIPC-7 – The SIPC-7 is the annual reconciliation reporting form that firms must file within 60 days of their fiscal year-end. The due dates by which the SIPC-7 (and any applicable payment) must be received by SIPC are as follows:
Year-end Date
|
|
November 30, 2011 |
January 30, 2012 |
December 31, 2011 |
February 29, 2012 |
January 31, 2012 |
April 2, 2012 |
February 29, 2012 |
April 30, 2012 |
Note: A Supplemental SIPC Report may be required to be included with your annual audit that is submitted to FINRA and the SEC. Consult your auditor for more information.
SIPC-6 – The SIPC-6 is the semi-annual reporting form that firms must file within 30 days of the midpoint of the fiscal year. This form is mailed to a firm by SIPC and includes income from the period, beginning on the first day of the fiscal year and ending six months later.
Year-end Date
|
SIPC-6 Date
|
Due Date
|
June 30, 2011 |
December 31, 2011 |
January 30, 2012 |
July 31, 2011 |
January 31, 2012 |
March 1, 2012 |
August 31, 2011 |
February 29, 2012 |
March 30, 2012 |
September 30, 2011 |
March 31, 2012 |
April 30, 2012 |
FOCUS Filings – FOCUS filing dates for the next three months are as follows:
If you File:
|
Period
|
Due Date
|
Monthly |
January 31, 2012 |
February 24, 2012 |
Monthly |
February 29, 2012 |
March 23, 2012 |
Quarterly |
March 31, 2012 |
April 25, 2012 |
RIA Annual Amendments– Investments advisers are required to file an amendment to update their Form ADV annually within 90 days of their year-end. Due dates by which these annual amendments are due are as follows:
Year-end Date
|
|
November 30, 2011 |
February 28, 2012 |
December 31, 2011 |
March 30, 2012 |
January 31, 2012 |
April 30, 2012
|
Holidays –
| January 16 |
Martin Luther King Day
Stock and bond markets closed
Regulatory Compliance closed
|
| February 20 |
Presidents Day
Stock and bond markets closed
Regulatory Compliance closed
|
| April 6 |
Good Friday
Stock markets closed
Bond markets close at noon
Regulatory Compliance closed
|
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