We pride ourselves not only on our expert advice, but also on the variety of product offerings that give our clients the ability to build a solid compliance program. Our primary objective is to simplify the job of compliance and supervision.
Today, many facets of our operations allow us to provide best-in-class service to our clients and make us a leader in compliance management.
What is “compliance management"? “Compliance management” is a term that we use to describe the system used by a firm to ensure that it operates a robust and effective compliance program. “Compliance management” has several key components, including, among other things, organization, efficient allocation of resources, delegation of responsibilities, effective management and leadership, appropriate training, policies and procedures tailored to the firm’s business, and documented compliance reviews.
We offer a wide range of compliance management solutions to help your firm establish, implement, and maintain an effective system for achieving compliance with the securities laws, rules, and regulations governing its business.
Start a Broker/Dealer, Buy/Sell a Broker/Dealer, Other Applications (Form CMA), FINOP, CRD Administration, AML Audit, and more.
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New RIA Startup, ADV Part 2A and 2B, Wrap Fee Brochure, Code of Ethics, IARD Administration, Annual Filings, Risk Assessments, Advertising, and more.
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WHY CHOOSE MASTERCOMPLIANCE?
The Ultimate Solution for Compliance Management
The complex and ever-growing set of regulations and laws governing the securities industry creates many challenges for the financial institutions that must comply with them. Compliance is not just what you know, but more importantly, what you don't know. The enforcement stakes are high and an audit score of 99% could result in a failure.
For those of you who are experts, compliance is something that you have to teach and delegate to others. Compliance takes a great deal of organization and discipline. Compliance doesn't just happen in a day; rather, it is ongoing process that must occur throughout the year.
Too often, we come across prospects that desperately need to fix a failing compliance program. In many cases, the gaps in these compliance programs are not detected until it is too late. Perhaps, the firm put too much trust in one employee. Consider the consequences of losing a key person, such as your firm’s Chief Compliance Officer. How would your firm replace this position with only two weeks’ notice? There is just too much ground to cover.
MasterCompliance is your firm’s solution and the all-in-one compliance management company.
We pride ourselves not only on our innovative products, but also on our people. Our clients remind us daily of how much they value our team and services. Our people have skills and experience in a broad range of fields, including legal, regulatory, operations, accounting, supervisory, trading, data analysis and technology.
BUILD A CULTURE OF COMPLIANCE
Identify and Manage Risk
Improve Audit Results
Proactive not Reactive
Gain the Required Knowledge
Maximize Resource Allocation
BUILD A CULTURE OF COMPLIANCE
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The MSRB is requesting comment on draft amendments to MSRB Rule G-26 related to customer account transfers. The draft amendments are primarily designed to modernize the rule and promote a uniform customer account transfer standard for all broker-dealers. Rule G-26 requires broker-dealers to cooperate in the transfer of customer accounts and specifies procedures for carrying[…]
In today’s ever morphing environment, business restructures are quite common. Broker-dealers often undergo mergers, acquisitions, or successions. And, the restructuring of broker-dealers aren’t simple tasks. Once a FINRA member firm decides it may want to restructure, there a number of things that should be considered. FINRA addresses the regulatory considerations a firm should account form related to restructuring in NASD Rule 1017. Rule 1017 establishes that a FINRA member firm must receive FINRA approval to undergo organizational changes such as mergers, acquisitions, asset transfers, and material changes in business. A principal from your firm should Read More…
FINRA has recently proposed certain amendments to Rule 4554 (Alternative Trading Systems— Recording and Reporting Requirements of Order and Execution Information for NMS Stocks) to require ATSs to provide additional order sequence information on reports submitted to the Order Audit Trail System (‘‘OATS’’).
In May 2016, the SEC approved Rule 4554 to further enhance FINRA’s ability to reconstruct an ATS’s order book and better perform its order-based surveillance, which includes surveillance for layering, quote spoofing and mid-point Read More…
Rule 603(a) of SEC Regulation NMS provides that any national securities exchange, national securities association, broker or dealer that distributes information with respect to quotations for or transactions in an NMS stock to a securities information processor, broker, dealer or other persons shall do so on terms that are not unreasonably discriminatory. In adopting Regulation NMS, the SEC stated that “adopted Rule 603(a) prohibits [a SRO] or broker-dealer from transmitting data to a vendor or user any sooner than it transmits the data to a Network processor.” Read More…
FINRA has released a holiday schedule for trade dates, settlement dates, and margin extensions in 2017. Broker-dealers and municipal securities dealers should consult the schedule when requesting extensions of time for “regular way” transactions effected on dates before and after a holiday when the exchanges are closed. FINRA hopes this schedule will reduce the number of requests for Federal Reserve Board Regulation T and Securities Exchange Act (SEA) Rule 15c3-3 extensions that are denied around holidays due to incorrect due dates specified when the requests Read More…
Running a broker-dealer is not an easy task. Firms must remain in compliance with many securities laws, rules, and regulations issued by the SEC, FINRA, or MSRB or risk getting fined, or even worse, shut down. Firms should not take short cuts when it comes to investing in their compliance department. The compliance department should stay on top of securities regulations so that it can ensure that the firm remains in compliance. Like any business, broker-dealers evolve and begin new business ventures. However, unlike most businesses, broker-dealers aren’t left with the decision to ultimately decide for themselves what business they will ultimately delve into. Broker-dealers must often first seek approval from FINRA prior to engaging in new business ventures. Read More…
While reviewing documents related to a private placement engagement, you may see references to Regulation D (sometimes referred to as “Reg. D”). Regulation D consists of three SEC rules – Rules 504, 505, and 506 – that issuers often rely on to sell securities in unregistered offerings. Each rule has specific requirements that the issuer must meet. SEC Rule 504, for example, provides an exemption from the registration requirements of the federal securities laws. Read More…
The CFTC and the SEC are jointly issuing final rules and guidelines to require certain regulated entities to establish programs to address risks of identity theft. These rules and guidelines implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which amended the Fair Credit Reporting Act (“FCRA”). First, the rules require financial institutions and creditors to develop and implement a written identity theft prevention program (“Program”) designed to detect, prevent, and mitigate identity theft in connection with certain existing accounts or the opening of new accounts. The rules include guidelines to assist entities in the formulation and maintenance of programs that would satisfy the requirements of the rules. Read More…
Registered representatives have increasingly inquired about the application of certain MSRB rules to managed accounts in which a RIA is exercising discretion to buy and sell municipal securities on behalf of the account holder. Specifically, with respect to these transactions, they are expected to: Provide the time-of-trade disclosures required by MSRB Rule G-47 to the[…]
FINRA has put out a schedule for its member broker-dealers with the due dates for report filings that are due in 2017 or in the first quarter of 2018. This notice serves as a reminder to help FINRA and SEC registered broker-dealers stay compliant by filing reports on or before their required due dates. Late[…]