127 Main Street
Lilburn, Ga. 30047
Ph: 770-923-9632
Fax: 770-923-9760
Hours of Operation: 9am-5pm Monday - Friday, ET
   
 
 
 

Why waste your valuable production hours when you can outsource this project so cost-effectively?

Our turnkey membership & registration solution provides a one-stop shop for your firm's FINRA, SEC & Home State registrations. Our system includes preparation of your firm's Written Supervisory Procedures Manual, Continuing Education Training Plan, and preparation of all FINRA & SEC forms.

Additionally, we provide comprehensive liaison services between you, the regulators, and your clearing firm. We also provide ongoing state and individual registration services.

What will be REQUIRED?

To register as a new broker/dealer, the firm must make successful applications to FINRA, the SEC, and the Home State. This process can be confusing and complicated. B/D Compliance Associates, Inc. assists the applicant firm in making a quick and successful application to all three agencies.

The FINRA application is the most arduous. Some of the many areas FINRA will scrutinize are (Reference FINRA Rule 1013 which became effective August 7, 1997):
  • Types of Business: It will be necessary to prepare a short business plan.
  • Personnel: Who are the owners/managers? Do they have the necessary experience and FINRA licenses?
  • Capital: What is the amount and source of the firm's capital? Requirements range from $5,000 to over $250,000.
  • Clearing Arrangements: Unless the firm will self-clear, which clearing firm will it utilize and on what terms?
  • Facilities: Will the firm have the necessary staff, space, and equipment?
What will it COST?

The cost fee to set up a new broker/dealer is $25,000 to $35,000 (plus clearing deposits, state and FINRA registration fees, and 3-6 months of estimated fixed expenses). B/D Compliance Associates, Inc. charges $20,000 and up for the preparation and filing of FINRA, SEC, and Home State applications. A firm quote can be given after a short telephone interview with the applicant firm.

How LONG will it take?

FINRA has 180 days from the date of receipt of an application to render a decision. Some of the FINRA Membership Applications prepared by B/D Compliance Associates, Inc. have been approved in less than 90 days.*

*Results are not typical, and require the applicant firm to have appropriate supervisory principals on staff at the time of the initial application. Other factors may greatly affect your firm's actual application timeline.



 
     
 

         
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