Financial and Operations (FinOp) Services
FINRA and SEC Matters
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 one of the industry’s leading FinOp providers, 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 San Francisco, New York City, Chicago, Miami, or Phoenix, RCG’s consultants will analyze your existing financial records and determine the appropriate course of action to ensure proper compliance.
Sample FinOp Services
- Rubicon Consulting Group will register themselves with the FINRA as your firm’s Series 27 Financial and Operations Principal (FinOp). This will grant RCG the necessary permission to communicate with the appropriate FINRA personnel regarding your regulatory financial compliance matters and progress on your behalf.
- Once registered, Rubicon Consulting Group will take the requisite steps to thoroughly learn your company’s organizational structure. This will allow the RCG team to understand the appropriate staff members and/or consultants with whom we will need to regularly interface for compliance, accounting, and upper-level management matters.
- Depending on the size of your company, one or more FinOps will perform a comprehensive review of your current financial data, including recently filed regulatory reports. After careful consideration, the assigned FinOp(s) on your account will be equipped with a basis for making recommendations and preparing prospective reports.
- Using your firm’s requirements, RCG will perform the following tasks:
- Research FINRA and SEC rules (15c3-1, net capital requirements for brokers or dealers)
- Assist with SIPC-6 and SIPC-7 calculations and completion of the respective forms
- Prepare the firm’s net capital computation
- Produce, assemble, and electronically file all periodic regulatory reports, including but not limited to:
- FOCUS reporting (Form X-17A-5, Part II or Part IIA)—financial and operational Combined Uniform Single Report for broker/dealers subject to the net capital requirements under SEC Rule 15c3-1 (FINRA Rule 15c3-1)
- SSOI—Supplemental Statement of Income, as required under FINRA Rule 4524
- Form Custody filings—those required alongside FOCUS filings
- Communicate with and schedule visits to your office staff to gather information about changes to the firm, its operation, or business—that which is needed to ensure compliance, both now and in the future
Part of the compliance rules that broker/dealers must follow includes (a) adhering to the rules of the FINRA and the SEC, as well as other regulatory agencies, and (b) having a qualified FinOp who has been registered with the firm. Rubicon Consulting Group has a profound knowledge base working with the FINRA and the SEC. Years of experience providing financial reporting in accordance with regulatory rules and requirements has allowed our financial analysts to consistently and reliably meet clients’ FINRA requests.
An investment in a skilled Financial Operations Principal, such as one of the FinOps managed by Rubicon Consulting Group, is a wise decision that will give you financial peace of mind for years. Contact Rubicon Consulting Group to discuss your company’s individual needs and to schedule a consultation.