Blog
Registering with the Securities Information Center (SIC)
Does your firm accept custody of physical stock certificates? If so, do you know that your firm is required to register with the Securities Information Center (“SIC”)? The SIC has operated the Securities and Exchange Commission’s Lost and Stolen Securities Program since 1977. This program has provided an effective way [...]
Business Continuity – Weather-Related Events
Recent U.S. natural disasters, especially Hurricane Sandy in 2012, underscore the importance of having a business continuity plan (“BCP”) that adequately addresses weather-related events. These natural disasters, though tragic, have taught financial services firms several valuable lessons on planning for hurricanes, blizzards, floods, earthquakes, tornadoes, wild fires, and other natural [...]
Private Placement Filing Requirements Under FINRA Rule 5122
In recent years, FINRA has enacted new rules regarding private placement transactions of FINRA member firms – FINRA Rule 5122 (Private Placements of Securities Issued by Members) and FINRA Rule 5123 (Private Placement of Securities). Each of these rules has its own filing requirements, as well as specified exemptions from [...]
FINRA Cycle Examinations
No less than once every four years, FINRA member firms are subject to comprehensive examinations, or cycle examinations. These exams determine compliance with applicable securities laws, rules and regulations of FINRA, the Securities Exchange Commission (“SEC”), and the Municipal Securities Rulemaking Board (“MSRB”). A combination of the departments of Sales [...]
Gifts, Gratuities, and Non-Cash Compensation Rules
In December 2014, FINRA published a report on its review of its gifts, gratuities and non-cash compensation rules. The report concluded that the rules could benefit from some updating to better align the investor protection benefits and the economic impacts of the rules. To that end, FINRA has recently proposed [...]
About Us: Full-Service Compliance Consulting Firm
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 [...]