With such a complex regulatory landscape, broker-dealer compliance programs need to run like a well-oiled machine. Compliance management is far from straightforward for BDs. From tracking a huge number of deals for conflicts, anti-money laundering, and anti-fraud to ensuring compliance with customer protection regulations, BDs cannot afford to cut corners on compliance processes.
Several high-profile BDs have been fined huge sums for non-compliance in recent years. Recent enforcement actions by the SEC and FINRA have demonstrated that even small and medium-sized BDs increasingly face enforcement action for non-compliance, to the tune of millions of dollars.
We have broker-dealer compliance specialists with extensive experience counseling on the legal, regulatory, and compliance implications of broker-dealer activities. Our capabilities encompass the broad spectrum of SEC, FINRA, and state regulatory and compliance matters.
As a broker-dealer, you play a pivotal role in the financial markets, facilitating transactions and ensuring smooth trading operations. Broker-dealer compliance entails adhering to regulations that uphold market integrity, protect investors, and maintain a level playing field. By complying with these guidelines, you not only foster trust but also contribute to the overall stability of the financial ecosystem.
The world of broker-dealer compliance is governed by a complex web of regulatory bodies, each with its own set of rules and regulatory requirements. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are among the prominent overseers. These regulatory entities establish guidelines such as the Securities Exchange Act of 1934 and various FINRA rules that shape the conduct of broker-dealers.
A successful broker-dealer compliance strategy encompasses several key components, including:
At My RIA Lawyer, our experienced broker-dealer compliance lawyers specialize in providing comprehensive assistance in meeting these compliance requirements. We are well-versed in broker-dealer registration, compliance programs, and the intricacies of federal securities laws.
Whether you are a broker-dealer, investment adviser, or involved in hedge funds, our team can help ensure that your broker-dealer activities align with regulatory requirements and safeguard your business. Contact us today for guidance and support.
Many broker-dealers encounter obstacles like keeping up with evolving regulations, staying ahead of technological advancements, and avoiding common pitfalls. Failing to address these challenges can result in legal repercussions, reputational damage, and financial losses.
Here are some of the most prevalent compliance pitfalls for broker-dealers:
To navigate these challenges and avoid common compliance pitfalls, broker-dealers often rely on compliance lawyers.
At My RIA Lawyer, we live and breathe compliance. Our attorneys and compliance team assist you in understanding and interpreting regulations, developing comprehensive compliance programs, and conducting internal audits to identify and address potential compliance gaps.
We use our decades of experience to provide tailored regulatory advice, helping you mitigate compliance risks and maintain a strong regulatory posture.
My RIA Lawyer offers a range of comprehensive broker-dealer services, including:
The landscape of broker-dealer compliance continues to evolve. As digital assets, algorithmic trading, and other technological advancements emerge, new challenges and opportunities arise. My RIA Lawyer is committed to helping you stay abreast of these changes, ensuring that your compliance efforts remain cutting-edge and effective.
Broker-dealer compliance is the cornerstone of a thriving financial market. With My RIA Lawyer by your side, you can navigate the complexities of regulatory requirements with confidence. Our strategy and unwavering commitment make us the partner you need to safeguard your business, enhance your reputation, and ensure sustainable success in the dynamic world of broker-dealer operations.
For personalized guidance and to explore how our services can benefit your broker-dealer business, contact My RIA Lawyer today.
Not your daddy's law firm
We take a no-nonsense approach to solving your problems. Forget about one-size-fits-all solutions; we roll up our sleeves and craft strategies that fit your financial business like a glove. We’re not just lawyers – we’re compliance partners, financial enthusiasts, and problem solvers.
We get it – you need answers, and you need them now. That’s where we come in, offering a blend of big-firm resources with the kind of personal attention you’d expect from a smaller one.
But what really sets us apart? We’re all about your success. Compliance is just the start; we’re here to help you thrive. We know the ins and outs of the financial world, and we’re not afraid to think outside the box to help you reach your goals while playing by the rules.
Making the jump to start your own firm is a big decision. Its stressful, hard work, and you have to learn a ton. This why I decided to hire a professional team to help establish my RIA the right way the first time. My RIA Lawyer’s team is absolutely amazing. They have demonstrated expert knowledge, personable staff, and they have shown us how much they genuinely care about setting us up for success by giving us the tools we need to help others. Thank you Leila and Liz for all of your hard work!
The initial consultation was extremely valuable. I definitely recommend speaking with them. I had very custom needs, and they rose to the task!
I worked with Leila as I was getting my new RIA firm up and running. Leila provided expert legal advice as a complement to the national compliance firm who was assisting me with my registration. I was introduced to Leila after I had already begun the process and not sure how I would have made it through without her. She was an invaluable resource and I look forward to working together again in the future!
I have used My RIA Lawyer for filing my Annual Amendments in the past and was very happy with their services and professionalism. Leila Shaver is very responsive, communicative, and extremely knowledgeable. I highly recommend their services!
Leila is an expert with compliance but she also offers a wealth of knowledge as a business owner. We discussed everything including compliance, marketing, business partnerships, and more. Even though my firm is not yet at a point to work with her, she has sent me multiple emails offering assistance with the things we spoke about during our meeting.
The attorneys at MyRIALawyer are always extremely attentive, responsive and competent. We look forward to expanding our relationship, as we continue to grow.
and help them understand what it is they actually need to be asking for.
We are the answer to All Your Questions.
“In life, it’s not that we don’t have enough time; it’s that we lose so much of it. We waste time on things that can be outsourced instead of spending time on things and people we love. I’d rather pay someone to clean my house and take that time to spend with my children. Our clients are happier letting us ‘clean house’ while they work with their clients. In the end, they have more satisfaction in their businesses and they’re happier overall.”
— Leila Shaver Founder
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Director of Compliance