Blog
FINRA Updates Anti-Money Laundering Template for Small Firms
Per the Bank Secrecy Act (BSA) and FINRA Rule 3310, FINRA member firms are required to establish Anti-Money Laundering (AML) compliance programs. To assist its smaller member firms with fulfilling these responsibilities, FINRA publishes the “Anti-Money Laundering Template for Small Firms”, which provides instructions, relevant rules, text examples, relevant websites, [...]
OBAs & PSTs: FINRA Seeks Comment on Proposed Rule
Last spring, FINRA began a review of its rules regarding Outside Business Activities (OBAs) and Private Securities Transactions (PSTs). The review was meant to evaluate the efficiency and efficacy of FINRA Rule 3270 (Outside Business Activities of Registered Persons) and FINRA Rule 3280 (Private Securities Transactions of an Associated Person). [...]
FINRA’s 2017 Examination Findings
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 [...]
FINRA’S COMPLIANCE CALENDAR – FEBRUARY 2018
Good news!!! FINRA’S 2018 February Compliance Calendar has been posted and it appears to be a fairly light month. However, there are a few things that firms should be aware of. […]
The NMA Process – Start A New Broker-Dealer
In order to start a new broker-dealer, you must submit a new membership application (NMA) to the Financial Industry Regulatory Authority (FINRA). The NMA process 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 [...]
Buy or Start a Broker-Dealer: Weighing the Two Options
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 [...]