Blog
FINRA Enforcement: Bringing Cases Against Individual Brokers
On September 20th, FINRA released the podcast FINRA Enforcement: Bringing Cases Against Individual Brokers. This podcast provides background information on how the enforcement process works against individual registered representatives. Mr. Chris Kelly, Deputy Head of Enforcement, was the guest on the show. Below is a summary of key considerations and [...]
Electronic and Technology Takeaways from SEC’s Billion Dollar Penalties
On September 22, 2022, the Securities and Exchange Commission announced charges against 15 wall street broker-dealers and one affiliated investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications during January 2018 through September 2021 review period. You can read the [...]
FINRA Unscripted Podcast: Membership Application Program – Reviewing and Approving Digital Asset Firms
This is a summary of a recent FINRA podcast on Membership Application Program.
Let’s Talk Aggregate Indebtedness
Every broker dealer has at least one thing in common – Minimum Net Capital Requirements (“MNCR”). Whether the firm has a $5,000 MNCR or a $100,000 MNCR, the firm’s FINOP must ensure that the broker dealer is at all times (including intra-day) meeting the requirements set forth by FINRA with [...]
Key Steps for Starting a Broker-Dealer
Individuals and companies desire to start a broker-dealer for many reasons including to facilitate sales, create an entry point for foreign financial institutions, or be a part of a larger financial plan. Some of the benefits to starting a broker-dealer (vs. purchasing an existing one) include saving money on due [...]
Understanding the Difference: Series 63, Series 65 Or Series 66
When a person is preparing to enter the financial services industry as a registered representative or investment advisor representative, they must take—and pass— certain qualification examinations. Firm’s must also understand registration requirements to properly advise employees and ensure licenses are held properly. Failure to do so can result in an [...]