Start a Broker/Dealer
All you need to know about starting a FINRA registered Broker/Dealer
FINRA members are required to compose and submit Financial and Operational Combined Uniform (FOCUS) reports to FINRA as required under the SEC Exchange Act Rule 17a-5. This rule was adopted in response to certain failures by broker/dealers holding customer funds and securities between 1968 and 1971.
The goal of FOCUS reports is enabling customers to evaluate if a broker/dealer is financially sound. Given the current state of the global economy and investors' faith in financial professionals, the functions of a FINOP are critical and likely to receive increased regulatory scrutiny.
The HedgeCo Legal and Compliance Consulting Group provides an experienced staff and a network of lawyers, accountants, and Series 27 professionals who can assist your firm's FINOP or serve in a full capacity on behalf of the firm. Our FINOP services include:
Rule 15c3-1 net capital calculations and analysis
Completion of Form X-17a-5
Complete forensic accounting services
FOCUS report review and filing
On-site audit support
Balance and income sheet certification