Where can I find broker/dealer Focus reports?

Where can I find broker/dealer Focus reports?

FINRA to Launch Redesigned eFOCUS System in June The monthly filings can be accessed in FINRA Gateway via “Requests”, and starting in July, these filings will also have an updated experience.

What is the focus report?

Related Content. An SEC form (Financial and Operational Combined Uniform Single Report) on which a US registered broker-dealer reports to the SEC and its primary SRO its net capital position as calculated under SEC Rule 15c3-1 (the SEC net capital rule) on a monthly or quarterly basis.

What is exemption report?

Exemption Report means the report (in the form report set out at Appendix 2 (Exemption Report)) to be completed when an Exemption is requested. Sample 1. Sample 2. Sample 3. Exemption Report means an application for Exemption in the form set out in Appendix 4 below and signed by the Director of Corporate Services.

Is form BD publicly available?

The Form also is used by applicants to register as broker- dealers with certain self-regulatory organizations and all of the states. The Commission and the Financial Industry Regulatory Authority, Inc. maintain the files of the information on this Form and will make the information publicly available.

Is the Series 53 exam hard?

Passing the MSRB Series 53 exam is a challenging but achievable goal. The benefits of becoming a Municipal Securities Principal – obtaining valuable industry knowledge and significant career advancement opportunities – are well worth the effort. Preparing for this exam requires dedication and rigorous study.

What is a k2i account?

(k)(2)(i) – Commonly used as a catch-all for broker-dealers whose business activities don’t otherwise qualify for another exemption. To qualify, a broker-dealer must carry no margin accounts, promptly transmit all customer funds and deliver all securities received in connection with its activities as a broker-dealer.

When to notify the Chief Financial Officer of a broker dealer?

If the independent public accountant determines that a material weakness exists in the internal control over compliance of the broker-dealer, the accountant must immediately notify the broker-dealer’s chief financial officer of the nature of the material weakness.

What is a focus report on form x-17a-5?

This FOCUS Report (Form X-17A-5) constitutes the basic financial and operational report required of those brokers or dealers subject to any minimum net capital requirement set forth in Rule 15c3-1. The instructions issued from time-to-time must be use d in preparing this report and are considered integral part of this report.

Who is required to file a broker dealer report?

Broker-dealers are required to engage an independent public accountant to prepare reports based on an examination of the broker-dealer’s financial report and either an examination of certain statements in the broker-dealer’s compliance report or a review of the broker-dealer’s exemption report.

Why are broker-dealers required to file quarterly custody reports?

Form Custody Under the amendments, all broker-dealers are required to file new Form Custody with their quarterly FOCUS Reports. Form Custody is designed to elicit information concerning whether a broker-dealer maintained custody of customer and non-customer assets, and, if so, how such assets were maintained.

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