Blog
Cybersecurity Awareness Month: Key Practices for Broker-Dealers and RIAs
As Cybersecurity Awareness Month begins, now is an ideal time for broker-dealers and registered investment advisors (RIAs) to evaluate and enhance their firm’s cybersecurity practices. Safeguarding client information is crucial not only for business success but also for meeting FINRA’s regulatory standards. Insufficient cybersecurity can lead to severe financial and [...]
Artificial Intelligence and Compliance Challenges in the Broker Dealer Industry
Today’s broker dealer industry is in the midst of a significant transformation due to the advancements in technology, particularly artificial intelligence (“AI”). Innovations such as AI may promise efficiencies and new capabilities, but it also introduces complex regulatory challenges. Below are several topics where AI may create a positive impact [...]
Broker Dealer Vendors
Establishing a new broker dealer involves multiple operational and regulatory requirements that necessitate engaging with various vendors. These vendors provide essential services ranging from technological infrastructure to compliance expertise. Having proficient vendors allows the broker dealer to operate efficiently and stay in compliance with regulatory standards. In this blog, we [...]
Cybersecurity and Financial Services
The Growing Importance of Cybersecurity for Broker Dealers and RIAs As more and more broker dealers and registered investment advisors (“RIAs”) go paperless, the threat of security breaches has exponentially increased. Cybersecurity has become one of the most critical components for financial service firms in an effort to safeguard information [...]
The Importance of SIPC
Every six months, broker dealers are subject to a SIPC payment. Today, we will discuss SIPC and why broker dealers must pay into this corporation. […]
Capital Requirements for Broker Dealers
Broker dealers play a vital role in the financial markets by facilitating the buying and selling of securities on behalf of its clients. To ensure the stability and integrity of the financial system, regulatory authorities, including the Financial Industry Regulatory Authority (“FINRA”) and the Securities and Exchange Commission (“SEC”) impose [...]