Are you up to date with all of your broker dealer requirements? If not, you could lose your firm
Do you know the broker dealer requirements in order to remain SEC compliant? Well you better be extremely familiar with broker dealer requirements if you expect to stay in business. Broker dealer requirements are many and varied and in constant flux. Broker dealer compliance requirements are also examined in annual SEC audits.
Sounds a bit much huh? Well the problem is that any broker dealer found not following broker dealer requirements will suffer dire consequences for their non compliance. Last year the SEC handed out over $113 million dollars in fines for broker dealer compliance requirements that were not met. The choice becomes very simple; take care of your broker dealer requirements or pay hefty fines which could put you out of business.
So what steps do you take as a broker dealer in order to make sure that you are SEC compliant?
Well unfortunately it is not quite that simple. The amount of broker dealer requirements that need to be considered are quite comprehensive and will cost a good amount of time, money and energy. And what investment firm has extra time, money, and energy that they have to spend? Not many.
So how will your investment firm handle its broker dealer requirements?
The most effective way to maintain your broker dealer compliance requirements is to hire an outside compliance firm to handle all of your compliance needs. An outside compliance firm will be able to go through all of your records and files and help you to prepare for your SEC audit or visit. An outside compliance firm will not only be able to update all your files and records, but will be able to train all necessary employees and represent you during the auditing process. In essence what an outside compliance firm does for you is pretty much everything when it comes to handling broker dealer requirements.
But not all compliance firms are created equal. You need a compliance firm to handle your broker dealer requirements which is seasoned and experienced and who deals with the SEC on a daily basis. The only compliance firm that you should ever consider would be an established firm located in the heart of the financial district with a large list of high profile clients. Only this type of compliance firm will be on the front lines every day, dealing with all of the latest SEC rules and regulations. An established firm will also always guarantee all of their work and stand behind you if any issues do arise with the SEC concerning your broker dealer requirements.
If you would like any further information about broker dealer compliance requirements I invite you to fill out the form to the right of the page or call the number on the top of the page. By filling out the form or calling you will soon be in contact with a professional and seasoned broker dealer compliance expert who can help you with any questions regarding broker dealer requirements. Remember to always contact an experienced and seasoned compliance firm about all of your broker dealer requirements.