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Securities Compliance Management, Inc., also doing business as MasterCompliance, is a full-service compliance consulting firm, including supervisory, regulatory, operations, financial reporting, accounting, AML audit, procedures, 206(4)-7 annual RIA reviews, technology solutions, etc. (see our websites below for more information on products/services). We specialize in advising broker-dealers and registered investment advisers on the management of their compliance programs “Compliance Management”. chicken scream app downloadWe are based in Alpharetta, GA (just outside Atlanta) and we currently employ over 20 individuals based in Atlanta, GA; Charlotte, NC; Dallas, TX; Raleigh, NC; Los Angeles, CA; and St. Louis, MO. We have been in business Read More....
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In accordance with FINRA Rule 4370 (Business Continuity Plans and Emergency Contact Information), a broker-dealer must have a business continuity plan addressing numerous elements, one of which is financial and operational assessments. This element requires the broker-dealer to assess the operational and other risks related to a significant business disruption, such as a pandemic. Public health officials report that the Zika virus, free interracial dating websitesan infectious disease transmitted by mosquitoes, has reached the continental United States and is being locally transmitted in southern states. Now would be a good time for broker-dealers and other financial institutions to assess the Read More....
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FINRA is proposing to expand the Trade Reporting and Compliance Engine (‘‘TRACE’’) reporting rules to include most secondary market transactions in marketable U.S. Treasury securities. The market in U.S. Treasury securities—or ‘‘Treasuries’’ —is the deepest and most liquid government securities market in the world. Treasuries are traded by broker-dealers as well as commercial bank dealers and principal trading firms (‘‘PTFs’’) that are not registered as broker-dealers with the SEC or members of FINRA. On October 15, 2014, the market for Treasuries experienced an unusually high level of volatility and a rapid round-trip in prices. In response to the unexplained volatility, Read More....
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Broker-Dealer firms are required under FINRA Rule 6730 (Transaction Reporting) to report the “time of execution” of a transaction in TRACE trade reports. The time of execution is defined as the time when the parties to a transaction in a TRACE-eligible security agree to the material terms of the transaction (such as price and quantity) and can calculate the dollar price of the trade. If a trade is executed on a firm’s trading desk at 11:30:00 ET, but isn’t entered into the firm’s system until 11:55:23 ET, which is reported to TRACE as the execution time? Time of execution is Read More....
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General Solicitation Under Rule 506(c) In 2013 and in accordance with the Jumpstart Our Business Startups Act (the JOBS Act), the SEC amended Rule 506 of Regulation D under the Securities Act of 1933 to permit the use of general solicitation in securities offerings conducted under new Rule 506(c). Rule 506(c) offerings are technically private placement offerings, but issuers if such offerings can do something no other of private offerings have done before – advertise the offering widely: on television, in newspapers, through publicly advertised seminars and over the internet. The JOBS Act directed the SEC to lift the prohibition Read More....
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Suitability is one of the most important concepts for an investment professional to understand. Before an investment professional can make recommendations or decisions on behalf of an investor, he must understand what investments are suitable for the investor’s account. The purpose of FINRA establishing the suitability standard, FINRA Rule 2111, is so that brokers deal fairly with their customers. FINRA Rule 2111 states that firms and their associated persons “must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer.” How is a “reasonable basis” determined? A Read More....
