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Full Service Broker Dealer Registration
SCA
has nine years of experience assisting firms through the NASD membership
process. We are proud to say that no SCA client has been denied NASD
membership. The regulatory and industry experience offered by the
professional staff at SCA can reduce the risk of delayed or
abandoned registrations, additional work delays and costly legal
issues.
Unlike many of
our competitors, SCA provides a totally customized program for our
start up Broker Dealer Clients. The cornerstone of a firm’s
compliance program is an effective set of supervisory and compliance
procedures and supervisory control procedures that are reasonably
designed to achieve compliance with all applicable securities laws,
regulations and rules of the NASD and MSRB. We take the time to
understand the firm’s business plan and prepare policies and
procedures that address each firm’s unique compliance issues. We
want our clients to have a solid foundation from the beginning.
Our training program during the
application process
also
distinguishes us from our competitors.
By the time your firm receives regulatory approval your principals
and staff will understand how to implement the required systems and
procedures so that you are prepared to “hit the road running”. You
will also be better prepared for your six-month new member NASD
audit.
SCA will prepare
and file all required documents for Broker
Dealer registration with the SEC, NASD, MSRB and
State and Foreign Jurisdictions. These documents
include the following:
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Form BD (Broker Dealer Application
Form) and all applicable schedules
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Form U-4 and fingerprint cards for
each Registered Principal and
Representative
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New Member Assessment Report |
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Written Supervisory and Compliance
Procedures |
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Written Supervisory Control
Procedures (Required under new Rules
3012 and 3013) |
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Written Supervisory Procedures and
Completed NASD Procedures Checklist |
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Business Plan |
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Financial Statements and Net Capital
Computation |
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Description of Financial Controls,
Communications and Operational
systems |
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Description of all Supervisors and
Principals |
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Description of Record-Keeping System |
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Description and Documentation of the
Nature and Source of Capital |
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Continuing Education Needs
Assessment and Training Plan |
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Business Continuity Plan |
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Anti-Money Laundering Program |
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State and MSRB Registration
Applications |
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Fidelity Bond Application
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Description of Number, Experience,
and Qualifications of Principals |
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Description of Legal and Regulatory
Actions Against any Associated
Person |
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Web CRD Entitlement Forms |
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Provide Compliance Training to the
Principals and Staff During the
Application Period |
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Additional Information Requested by
the NASD Following the Initial
Filing and |
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Additional Registration Requirements
(i.e., FINS number, SIC agreement,
SIPC Membership, MSRB Registration) |
In addition
to preparing and filing the above
documentation, we assist with the
following:
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Locating the clearing firm that best
meets the needs of the client |
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Finding an experienced CPA firm to
conduct the firm’s annual audit
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Counseling on capitalization
strategies |
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Recruiting qualified principals
including qualified financial and
operations principals |
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Accompany the principals to the NASD
Membership Interview |
Ongoing
Services:
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State Registrations
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Registered Representatives
Registration/Termination |
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Compliance Audit (Prior to initial
six month NASD exam) |
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Regular Updates of Written
Supervisory Procedures |
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Web CRD Registration and CE
monitoring
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Form B/D Amendments
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Registration of Investment Adviser |
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Preparation of financial statements
and Focus reports |
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General compliance consulting
services |
Click here
for information on SCA’s
Comprehensive Consulting Services for post registration
assistance.
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