Regulatory Consulting Services

RND fully understands the dynamics inherent in the financial services industry’s ever-shifting regulatory environment. Our objective is to ensure that every client is capable of responding to challenges and can meet their compliance obligations.

Areas of expertise:

Regulatory Enforcement Action  |   Mergers & Acquisitions  |  Rule Interpretation & Response Letters  |  BD / RIA Formation  |  CyberSecurity  |  Audit – Exam Preparation

 

Has your firm received an Enforcement action or Regulatory mandate?

A broker firm under scrutiny from an SRO authority (i.e. FINRA, SEC, MSRB), they need qualified and experienced consulting advice. Our service is a top choice among consulting firms to choose from because we have requisite experience with over 30 years handling regulatory compliance and examination issue.

A regulatory mandate or enforcement action requires the broker-dealer or investment adviser to improve their compliance systems. We have assisted a variety of securities investment firms and fund managers through refinement of written supervisory (WSP) and compliance procedures, audits and financial reporting analysis, web CRD registration concerns, continued education programs, outsourcing FinOps and compliance officer responsibilities, as well as preparing for a regulatory examination.

 

Rule Interpretations & Regulatory Response Letters (8210 Letters)

As regulatory consultants we have the depth and breadth of expertise necessary to assist in responding to requests for rule interpretations and drafting regulatory response letters. Whether a firm’s issues are related to membership and registration, market maker responsibilities or advertising and sales literature, we’ll provide a well thought out response to your inquiry in a timely manner.

If your firm has received an 8210 letter from FINRA requesting information or inspection of records, a timely response is of the utmost importance. But, don’t make the mistake of simply replying and hoping the issue will go away. Often times these events are triggered by a flag in the examiners system. Look to a qualified compliance consultant such as RND Resources to provide insight into what may have triggered the request and an appropriate response. Over the years, we have had the unfortunate opportunity to assist brokerage firms who made a costly mistake of either not replying or preparing a hasty or damaging response, causing greater trouble for their firm.

See our Litigation Support and Expert Witness service for more information

Adapting to Rule Changes

Brokerage firms and RIA’s spend a significant amount of time updating policies and procedures to adapt to new rules and the ever-changing regulatory environment.  Many firms find the burden shifts them farther and farther off course in reaching their strategic goals and developing relationships with new and existing clients. Why not let us help with the heavy lifting of compliance changes. Our professionals are qualified to help fill the shoes of your compliance officer and work as a task force to get your firm quickly up to speed. 

We’ll analyze the rule change and its impact on your firm; provide stakeholders with a gap analysis; prepare new policies and procedures; and conduct firm training to ensure your staff is up to date. This way you can continue day-to-day operations with the least amount of disruption, while ensuring risk is being managed and your compliance needs are supported. Call us today for a quote on consulting for new policy development. 

 

Merger and Acquisition

A merger between financial services firms inevitably means that registration and compliance issues must be re-visited and a CMA (Change Membership Application) has to be filed. RND and Dave Banerjee CPA works with broker-dealer or investment firms and their stakeholders in preparing for a merger. We are experienced professionals who can assist with; business valuation opinions; filing necessary notifications with the SEC, FINRA, NYSE and states; revising compliance and supervisory procedures (WSP), interim compliance officer, finop, or administrative services, and compliance training programs.

Because we have expertise in both accounting and regulatory compliance for securities firms, we’re able to handle all aspects for a smooth transition or provide only specific services as requested.  Our team is able to prepare a quote based on fixed-fee services, monthly retainer programs, or hourly basis billing. Call us for a customized quote today.

 

Broker-Dealer & Investment Adviser Initial Set-Up

RND takes broker-dealers and investment advisers from business plan to full operation, offering a customized, hands-on approach that does not rely on ‘do-it-yourself’ registration software or generic compliance procedures. We guide prospective broker-dealers and investment advisers through the registration process, drafting SEC, FINRA, NYSE and state filing, FINRA business plans, customized continuing education plans, and written supervisory and compliance procedures, as well as preparing prospective members for the FINRA membership interview. See our broker-dealer formation page for more details.

Broker-Dealer Audit Preparation Service

Broker Dealers are faced with changing audit rules each year. As FINRA, SEC, and other SRO authorities evolve so does the work involved in preparing for the year-end audit.  For many securities firms the time involved preparing audit schedules and paperwork is a huge burden. Additionally, if the schedules and paperwork are handed off to the auditor in an incomplete or otherwise poorly organized manner, the audit will cost more and may open the door for unexpected questions and further review. Find out how we can help your BD firm prepare for a successful year-end audit.

Advertising & Sales Literature: Consulting, Review & Training

Advertising and sales literature is the front-line of your business, defining not only consumer perceptions but also those of regulators. RND’s helps broker-dealers and investment companies ensure that they leave a positive and lasting perception with their target markets, while at the same time complying with regulatory requirements.

Advertising Consulting

If you are having difficulty receiving a clean comment letter the first time sales materials are filed with FINRA Advertising Regulation Department, then it may be time to take a hard look at your organization’s compliance systems. RND can help streamline your internal processes as they relate to the preparation, review, approval, filing and recordkeeping of advertisements and sales literature. Our team will review and update written supervisory procedures, as well as develop firm element sales material training requirements and conduct annual compliance meetings. Once your compliance systems are strengthened, a clean comment letter the first time around is far more likely.

Advertising & Sales Literature Review

Meeting your marketing goals as well as your compliance obligations is sometimes easier said than done. RND advertising and sales literature review services aid broker-dealers and investment companies in meeting both goals. Available on a retainer basis, this service can be used to supplement your compliance staff, or to completely outsource your advertising and sales literature review functions. We guarantee quick turnaround as we guide your organizations through the FINRA filing process, respond to comment letters and inquiries, and offer insight into rule interpretations and positions.

Literature Training

RND literature training helps legal, marketing or communications associates gain the necessary understanding and insight into rules and regulations that enable them to efficiently navigate the FINRA Advertising Regulation Department and address FINRA regulation comment letters.

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More consulting programs from RND Resources Inc

“I have known and worked with Dave for more than 15 years. I recommend him without any hesitation. He has a solid understanding of securities industry rules and regulations.”

S Scott – July 11, 2011