Independent Broker Dealer Definition

Known Audit And Attest Engagements Where SEC ... - AICPA
Mean dual registered with the same regulatory body in two different capacities (i.e. Non-carrying Broker-Dealer and Investment Adviser). 2 Includes banks, savings institutions, savings and loan holding companies, etc. Any entity that is insured by the FDIC and under the Federal Deposit Insurance Corporation Act (FDICIA). ... Read More

Money Laundering - Wikipedia
Money laundering is broadly defined in the UK. In effect any handling or involvement with any proceeds of any crime (or monies or assets representing the proceeds of crime) can be a money laundering offence. An offender's possession of the proceeds of his own crime falls within the UK definition of money laundering. ... Read Article

SEC Approves FINRA’s Capital Acquisition Broker Rules
8 Significantly, CABs are also prohibited from acting as chaperones for non-U.S. broker-dealers pursuant to Rule 15a-6 under the Exchange Act, even if the activities of the non-U.S. broker-dealer would be those in which a $5,000 Broker could engage.9 ... Get Content Here

NAIFA Fact Sheet: DOL Expands Fiduciary Definition
Requirements. First, the advisor and her firm/financial institution (e.g., broker-dealer, insurance company, and bank) must enter into a contract with each investor specifying, among other things, that the advisor: 1) is acting as an investment advice fiduciary; ... Read Here

Broker-Dealer Update - AICPA
Request to a broker-dealer’s independent public accountant for the accountant to discuss audit findings or for access to audit documentation must be made in writing ... Read Document

New Customer Identification Procedure Rules For Brokers And ...
Broker-dealer, provided that the broker-dealer has a reasonable belief that it knows the true identity of the person. 9 For these purposes, the term “financial institution” is defined by reference to the Bank Secrecy Act’s extremely broad definition. As fully described in the CIP NTM, a financial institution is ... Get Content Here

Distribution Channel Definitions - Strategic Insight
Independent/Regional Broker Dealers Independent and Regional Broker Dealers are comprised mainly broker dealer firms whose financial advisors operate as independent contractors (as opposed to Wirehouse advisors who are employees of their firms). The Independent/Regional BD marketplace is made up of a majority of small firms ... Read More

STAFF GUIDANCE FOR AUDITORS OF SEC-REGISTERED BROKERS AND ...
Understanding the Broker or Dealer and Its Environment 14 Consideration of Fraud 16 Consideration of Materiality 17 Consideration of the Broker's or Dealer's Use of Third Parties and Service Organizations 17 Audit Procedures Regarding Related Party Transactions 19 Coordinating the Audit of the Financial Statements with the Audit Procedures on the ... Read More

Central Counterparty Clearing - Wikipedia
Central counterparty clearing (CCP), also referred to as a central counterparty, is a financial institution that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options, and derivative contracts.. CCPs are highly regulated institutions that specialize in managing counterparty credit ri ... Read Article

Securities And Marijuana: A Broker/Dealer’s Guide To ...
Bank Secrecy Act.13 Broker/dealer firms fall within the definition of a “financial institution” under the Bank Secrecy Act.14 Therefore, broker/dealer firms and their registered representatives must be careful to delicately navigate through the relevant rules, regulations, guidance and laws when deciding to do business with the cannabis ... Document Retrieval

Top 10 Differences Between Wirehouse And Independent Broker ...
YOU ARE AN EMPLOYEE You work for a firm that has global or regional offices that share financial information, research, and prices. You are growing a business for someone else. ... View Document

Going independent As A Hybrid RIA
Of 12b-1 fees or as commission trails that the broker-dealer receives from mutual fund companies or alternative investment sources Terms to know Full affiliation broker-dealer advisor • Employee of the broker-dealer • Conducts advisory and brokerage business Hybrid advisor • Employee or independent contractor of an IBD or independent ... Access Full Source

2017 FSI Membership Video - YouTube
FSI is comprised of financial advisor members and broker-dealer who are committed to creating a healthier, more business-friendly regulatory environment for independent financial services firms ... View Video

The SEC indicated that the exclusion of a broker-dealer from the definition of Municipal Advisor applies only “to the extent that the broker, dealer, or municipal securities dealer engages in activities that are within the scope of an underwriting of such issuance of municipal securities.” ... Access Content

Financial Services Institute
Only organization advocating solely on behalf of these independent financial services firms and financial advisors. Because of the independent nature of their business, individual financial advisors registered with an independent broker-dealer are contractors as opposed to employees. ... Access Document

Non-Deposit Investment Product Examination Procedures
Investment advice). Federal securities laws exempt banks from the definition of a broker. Dealers act as a principal in a transaction. A dealer buys or sells a security for its own account and charges the customer a premium or discount. Federal securities laws exempt banks from the definition of a dealer. ... View Doc

Chapter 1: Real Estate Broker License Law
Real Estate Broker License Law was passed, not to make a monopoly of the real estate business, but to protect the people of the State of Colorado. Through licensing, the law seeks (1.5) “Option dealer” means any person, firm, partnership, limited liability company association, or ... Return Doc

PSCA Fiduciary Rule Final
The final rule makes it clear that an independent broker-dealer effecting transactions for a plan or an IRA generally will not be a fiduciary if the broker-dealer simply executes trades in the ordinary course of business based on a specific and specified set of trading parameters. ... Doc Retrieval

Auction Rate Security - Wikipedia
An auction rate security (ARS) typically refers to a debt instrument (corporate or municipal bonds) with a long-term nominal maturity for which the interest rate is regularly reset through a dutch auction. ... Read Article

$50 million in assets is exempt from the definition. Conditions for the exemption: a. The service provider is a regulated bank, insurance company, registered investment adviser (“RIA”), or broker‐dealer; or b. the service provider i. Reasonably believes the plan sponsor is capable of ... Fetch Content

Forum For Auditors Of Broker-Dealers - PCAOB
Broker-dealer claimed an exemption from Rule 15c3- 3 Either: The broker-dealer met the identified exemption provisions in Rule 15c3 -3(k) throughout the most recent fiscal year without exception, or The broker-dealer met the identified exemption provisions except as described in the Exemption Report. ... Access This Document

What Is An Auto Broker? - Dealerlicense.com
An auto broker or auto buying service is a dealer who engages in the business of brokering where there is an arrangement under which a dealer for a fee or other consideration regardless of the form or type of payment, provides, or offers to provide the service of arranging negotiating ... View Document