Broker-Dealers are some of the most closely regulated entities in the world today, maintaining compliance with the Financial Industry Regulatory Authority (FINRA), the U.S. Securities and Exchange Commission (SEC), and other regulators is a complex undertaking. At Rives & Associatess, LLP, our partners and staff take this complex environment and make it simple.
Recent scandals have brought significant changes to the regulatory environment for non-public broker-dealers. As a result the Securities and Exchange Commission has rescinded the previously provided “exclusion” for non-public broker-dealers to be exempt from the PCAOB audit requirements. Effective for 2009 annual audits for non-public broker-dealers must be conducted by an accounting firm registered and approved by the Public Company Accounting and Oversight Board (PCAOB). For more information please click here to access the U.S. Securities and Exchange Commission FAQs.