"Stay Compliant with Rubicon Consulting"

Expert FinOp Services for Broker/Dealers

Anti-Money Laundering

Independent Anti-Money Laundering (AML) Program Testing

Gaining an unbiased assessment of how your firm’s anti-money laundering compliance program meets AML mandates—and of where you stand in regard to money laundering risk—requires regular, comprehensive AML program testing. The certified experts at Rubicon Consulting Group (RCG) provide independent testing of the anti-money laundering compliance program for FINRA member broker/dealers as well as SEC and state Registered Investment Advisors (RIAs).

For valid independent AML program testing, auditors for your firm must first and foremost meet two basic requirements:

  • Anti-money laundering compliance program auditors must be knowledgeable of all AML standards and the various applications of AML rules as they apply to broker-dealers and investment advisors.
    • RCG AML specialists are well-versed in the relevant AML mandates not only of the Bank Secrecy Act (BSA) and the USA Patriot Act of 2001, but also of such governmental administrators and regulators as the Securities and Exchange Commission (SEC), the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Financial Industry Regulatory Authority (FINRA).
  • Anti-money laundering compliance program auditors must be independent of the functions being tested (i.e. an auditor cannot be your designated AML compliance person, a member of your AML compliance team, or any individual who reports to either).
    • RCG’s testing professionals offer the third-party money laundering compliance testing your firm requires. Our experts include FINRA Certified Regulatory Compliance Professionals (CRCP) with extensive anti-money laundering experience.

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FinOp Services

Staying compliant with the FINRA and the SEC is a primary concern for broker/dealers and part of the FinOp services provided by RCG. Timely financial filings, annual audits, FINRA examinations, and the preparation of regulatory reports are just a few of the many functions that need attention on a regular basis—responsibilities normally handled by a dedicated Financial and Operations Principal (FinOp). While larger firms can absorb the cost of staffing in-house FinOp professionals, smaller broker/dealers need to replicate these FinOp services—affordably.

Rubicon Consulting Group (RCG) is Scottsdale, Arizona’s most effective FinOp provider, offering cost-effective solutions—from coast to coast—to broker/dealer workflow requirements and comprehensive FinOp services. With almost two decades of industry experience, your organization will benefit from having one of RCG’s highly trained FinOp services consultants customize a program to your specific needs. Whether you’re in Phoenix, San Francisco, or New York City, RCG’s consultants will travel to your location, analyze your existing financial records, and determine the appropriate course of action to ensure proper compliance.
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Frequently Asked Questions

Below are answers to questions we frequently receive about broker dealer financial regulatory compliance, FINRA and SEC regulations, and Series 27 FinOp services.  If your question does not appear below or the answer is not satisfactory, please contact us.

  • What is a Financial and Operations Principal (FinOp) and why do I need one?
      • What is a FinOp?
        A FinOp is a Financial and Operations Principal, an individual who has passed a qualifying exam from the FINRA (Financial Industry Regulatory Authority).  For securities businesses, FinOps assist with regulatory and reporting requirements, which are necessary to comply with FINRA and SEC rules.

     

    • Why do I need a FinOp?
      For those in the securities business, on a periodic basis broker/dealers are required to file certain reports, such as a FOCUS (Financial and Operational Combined Uniform Single) report, among others.  One or more of these reports must be prepared by a licensed Series 27 or Series 28 FinOp. Learn more…

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