Info Sheets

We have created an array of brief summaries of the applicable regulations and topics that impact the financial and brokerage industry. For information about a specific matter that could impact your firm, contact us directly by email or phone.

Establishing an Investment Adviser

Background Over the last decade, there has been increasing interest on the part of entities and individuals to form investment advisers. This is evident based on statistical evidence and experiences of FIC. The following paragraphs provide some basic information on starting an investment adviser. Regulatory Agencies The primary regulator(s) with whom you will seek approval ... read more

Establishing a Broker/Dealer

Background Making a decision to start a broker/dealer can be a daunting task where much time and deliberation needs to be applied. Prior to starting the process for the establishment of a broker/dealer, all individuals and entities should ask the following questions: Why do you want or need to create a broker/dealer?; Are there alternatives ... read more

Annual Compliance Reviews

Background Broker/dealers and SEC registered investment advisers are responsible for conducting annual reviews of their supervisory controls and compliance programs, respectively. The following paragraphs provide some basic information on annual compliance reviews. Requirements for Broker/Dealers For most broker/dealers, annual reviews are required to be conducted of their: Supervisory Controls; Anti-Money Laundering Compliance Program; Business Continuity ... read more

Compliance Policies and Procedures

Background Broker/dealers and investment advisers are required to maintain compliance policies and procedures, also known as written supervisory procedures. The maintenance and establishment of compliance policies and procedures proves to be a daunting task that is a considerable time commitment. Compliance professionals and departments frequently have difficulty in timely updating policies either due to time, ... read more