Duff & Phelps Compliance and Regulatory Consulting

Broker-Dealer Services

Our broker-dealer compliance specialists comprise former SEC and FINRA regulatory professionals, forensic accountants, investigators, and industry and technology experts, who work with U.S. and international broker-dealers, to assist them in meeting regulatory obligations while reducing their compliance risk profile.

Registration services

  • Draft and file Form BD (SEC’s initial informational application)
  • Draft and file Form NMA (FINRA’s New Membership Application)
  • Preparation for the Pre-Membership Interview
  • Schedule qualification examinations for all registered representative candidates
  • Submit fingerprint cards
  • Draft and submit FINRA entitlement forms that provide access to the online FINRA Gateway system
  • Draft and submit U-4 filings for each registered representative within the firm
  • Assist in preparing the firm’s business plan
  • Draft Supervisory Procedures Manual
  • Develop and implement AML policies and procedures
  • Perform continuing education needs analysis and create training plan
  • Develop business continuity plan
  • Prepare continuing membership applications under FINRA Rule 1017
  •  Prepare and submit the necessary State Blue Sky registration package(s)

Ongoing regulatory support services:

  • Conduct FINRA mock examinations
  •  Prepare amendments for Forms U-4, U-5 and Form BD
  • Conduct AML audits
  • Conduct branch office programs and audits
  • Conduct the broker-dealer’s annual compliance meeting
  • Provide annual registration renewal reminders and tracking
  • Update the broker-dealer’s Supervisory Procedures Manual
  • Review of advertising and marketing materials, including emails
  • Inform the broker-dealer of changes in SEC and FINRA rules and regulations that may affect the broker-dealer’s business
  • Provide ad hoc regulatory advice as needed
  • Assist with any correspondence required by the SEC or FINRA

Gap analysis, review and testing services:

  • Supervisory Review – annual gap analysis review of broker-dealer’s business and compliance programs to determine broker-dealer’s level of compliance
  • Supervisory Control Review – test of certain of the broker-dealer’s supervisory control procedures identified by a risk assessment
  • Anti-Money Laundering Compliance Review – test and analyze the effectiveness and efficiency of the broker-dealer’s AML program
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