Blog
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 [...]
Questions for any Third Party FINOP Service Provider
Per the National Association of Securities Dealers (“NASD”) Rule 1022, every broker dealer must retain a Series 27/28 Financial and Operations Principal (“FINOP”). A Series 27 FINOP is one who is licensed to be a FINOP of a full service or introducing broker dealer. Whereas a Series 28 FINOP is [...]
Audit Preparations for FINOPs
For a broker dealer, there’s a single word that is synonymous with death and taxes….Audit. Every broker dealer needs to be prepared for audits. Whether it is the annual independent audit or a regulatory audit, audits will happen. Your broker dealer’s Financial and Operations Principal (“FINOP”) plays a vital role [...]