Most FINRA broker-dealers operate pursuant to an exemption from SEC Rule 15c3-3 (the Customer Protection Rule). This rule requires that broker-dealers choosing to receive or hold customer funds must compute the Reserve Formula on at …
Tag: mitchell atkins finra
FINRA BD Branch Offices in Executive Suites? Absolutely.
These days, it is not unusual for a registered representative of a brokerage firm, or any other small business owner for that matter, to conduct business from a virtual office or other part-time office. Many …
FINRA Anti-Money Laundering Independent Testing
It is the time of year when many broker-dealers are scheduling their annual independent test of their anti-money laundering programs. These tests are required by FINRA Rules. More specifically, FINRA Rule 3310 (formerly NASD Rule …
FINRA Compliance When Customers are Hunting for Yield
Today, December 1, 2014, a quick check of the web shows that the national average rate for a one year FDIC insured certificate of deposit is 0.27% APY. The rate on savings accounts is 0.09%. …
FINOP News – FINRA South Region Compliance Seminar
November 21, 2014 FINRA Financial and Operations Update The FINRA South Region Compliance Seminar was held on November 20 and 21, 2014 in Fort Lauderdale, Florida. During the session on Financial and Operational Issues …