Legal Counsel & Services for Broker-Dealer Entities

Broker-dealers must comply with numerous regulation requirements that present a unique set of challenges. For example, how should social networking diligence and supervisory oversight be handled? What are the current rules regarding cash versus non-cash compensation and what you can pay—or not pay—for? How should suitability and due concerns be vetted prior to offering a new product? At Jacko Law Group, PC (“JLG”), we provide legal counsel and services to address these challenges.

The ongoing broker-dealer attorney assessment services offered by our lawyers and professional staff include:

Formation Services

Our securities lawyers support broker-dealers from the inception of their practice. We assist in completing new membership applications, update corporate records (such as bylaws, partnership agreements, etc.), assist with registration requirements and compliance processes for registered representatives, and develop training programs. To learn more about our formation services, please visit our broker-dealer formation page.

Assessment & Compliance

Some clients wish to purchase an existing broker-dealer shell. Others wish to enhance their existing compliance programs.

Whatever you choose, JLG can help by:

    • Providing due diligence checklists & interviewing potential sellers of broker-dealer shells
    • Formulating broker-dealer selling agreements
    • Performing mock FINRA examinations & broker-dealer risk assessments
    • Conducting branch office audits
    • Performing independent AML audits
    • Evaluating/enhancing current compliance program & training efforts
    • Performing annual testing for certification of the broker-dealer's compliance supervisory program in accordance with FINRA regulations
    • Evaluation of current surveillance efforts, including the review of surveillance reports & generation of “red flag” triggers
    • Response to regulatory inquiries & complaints
    • Development & testing of the business continuity plan, AML, and Regulation S-P programs
    • Recommendations for & implementation of compliance technology solutions

Transactions & Broker-Dealer Practices

    • Assistance in completion of all ongoing registration forms, submission of supporting documentation & filing with FINRA and appropriate state offices
    • Authoring, review & analysis of client documents (new account forms, privacy notices, prospectus receipts, 1035 exchange disclosures, quarterly performance reports, marketing disclosures, etc.)
    • Review & assessment of sales practices (use of finders, telemarketing, marketing tools & sales desk responses)
    • Creation & review of broker-dealer selling agreements
    • Assessment of business continuity, disaster recovery & succession plans
    • Due diligence of third-party service providers

Comprehensive Counseling for FINRA-Related Regulations

At Jacko Law Group, PC (“JLG”) we are well-versed in all aspects of compliance with the Financial Industry Regulatory Authority (FINRA). Our attorneys provide counsel on FINRA requirements, including:

    • Advertising requirements & review of collateral 
    • Due diligence of investments and vendors
    • FINRA examinations & enforcement counsel
    • Written supervisory procedures & surveillance controls
    • Creating & maintaining broker-dealer compliance programs
    • New account forms, selling agreements & other documents
    • Form CRS & other client disclosure materials
    • Cybersecurity counsel

Industry Publications

Sorry, no posts were found.

Need FINRA broker-dealer regulatory counsel?