FINRA Rule 4524 requires each member firm to file a Supplemental Statement of Income (“SSOI”) within 20 business days after the end of each calendar quarter via the FINRA Gateway. The SSOI is designed to provide FINRA with greater detail regarding firm’s revenue and expenses.
The firm should complete the review of the outside brokerage accounts of all associated persons for the prior month. finra.complinet.com/en/display/display_main.html
The FINRA Institute at Wharton CRCP program, which is delivered through the Wharton School at the University of Pennsylvania, provides compliance, legal and regulatory professionals with an in-depth understanding of the foundation, theory and practical application of securities laws and regulation. The Week I Program is meant to provide a foundation, leveraged from case studies … Continue reading FINRA Institute at Wharton – Week I
In accordance with SEC Rule 15c3-1, each broker/dealer registered pursuant to Section 15 of the Act must have evidence of the computation of net capital monthly. That computation should be completed and approved by the FINOP within 17 business days after the end of each month.
FINRA Rule 3270 prohibits any registered person from being an employee, independent contractor, sole proprietor, officer, director or partner of another person, or being compensated, or having the reasonable expectation of compensation, from another person as a result of any business activity outside the scope of the relationship with the member firm unless he or … Continue reading Outside Business Activity Review (NASD Rule 3050)