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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REGISTERED INVESTMENT ADVISORS
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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Other Broker Dealer and Registered Investment Adviser Services:
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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
Identify and Mitigate Risk
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MasterCompliance has proven to be a leader in the space of compliance management for over a decade.
Recently, the Financial Industry Regulatory Authority (“FINRA”) released its 2018 Regulatory and Examination Priorities Letter. The letter details the topics that FINRA will focus on during the 2018 calendar year. Firms should review the letter and use it as a guide in making their compliance programs more robust and audit ready for the next examination cycle. Here, we will discuss a few of the topics that FINRA highlighted. Read More…
In order to start a broker-dealer, you must submit a new membership application (NMA) to the Financial Industry Regulatory Authority (FINRA). Completing the NMA is often an arduous process. To assist clients, we have a team of experts that can simplify the process, answer any questions, and get you to the finish line. Read More…
Are you looking to start a broker-dealer or buy a broker-dealer? If so, we can assist you in weighing the two options. Securities Compliance Management, Inc., also doing business as MasterCompliance, is a full-service compliance consulting firm. We have assisted many clients in starting and buying a broker-dealer. There are many factors that you should consider before deciding which option is the best for you. Read More…
Custody remains a focus area for SEC and state regulators alike. Firms should review the guidance released by the SEC to learn what steps can be taken to avoid having inadvertent custody requiring an independent surprise examination.
Guidance Issued by the SEC: Inadvertent Contractual Custody
In guidance notice No. 2017-01, “Inadvertent Custody: Advisory Contract Versus Custodial Contract Authority,” the SEC lists examples of problematic statements listed in agreements between clients and qualified custodians. The staff has determined an investment adviser may inadvertently have custody of client funds or securities because of provisions in a separate custodial Read More…
Upon terminating a registered representative or an investment advisor from a firm, whether voluntary or involuntary, a Form U5 must be filed. The Form U5 is the Uniform Termination Notice for Securities Industry Regulations. It can be filed electronically with the Central Registration Depository (“CRD”) or the Investment Adviser Registration Depository (“IARD”). Firms can also submit paper filings. Once filed, the individual’s registration will be terminated in the appropriate jurisdictions and/or self-regulatory organizations. Read More…
IT’S ALMOST 2018!!!! As we approach the New Year, firms should make sure that they start off on a good note. Below are the regulatory filings, request for comments, and certification due dates for the month of January. FINRA does not list any conferences or events for the month. JANUARY 2018 January 2nd Annual Audit[…]
Recently, the Financial Industry Regulatory Authority (“FINRA”) released a report detailing its observations from its cycle examination program. FINRA hopes the report will assist broker-dealers in strengthening their compliance with securities rules and regulations. FINRA noted that the report does not represent a complete inventory of observations about the industry as a whole, does not imply that any issues discussed exist at any particular firms, and should not be read as creating new legal or regulatory requirements or new interpretations of existing Read More…
Form U4 is the Uniform Application for Securities Industry Registration or Transfer. Any individual that wishes to register with a broker-dealer or a registered investment advisor must submit the application to become registered in the appropriate jurisdictions and/or SROs. If any information changes, the individual must update the form Read More…
FINRA Rule 2210 requires that firms retain records of communications that relate to their “business as such” under Rule 17a-4(b) of the Securities Exchange Act of 1934 (SEA). Therefore, it is the content of the broker’s communication that determines whether it is regulated under Rule 2210. However, how does the rule apply if the firm[…]