FINRA and Finder Fees; Broker Dealers by Laura Anthony, Palm Beach- Broker-dealers lack an incentive to engage in small private capital-raising transactions. In addition to regulatory and liability concerns, the amount of a capital raise by small and emerging companies is often small (less than $5 million) and accordingly, the potential commission for a broker-dealer is limited as compared to the time and risk associated with the transaction. Most small and middle market bankers have base-level criteria for acting as a placement agent in a deal, which includes the minimum amount of commission they would need to collect to become engaged. From a regulatory perspective, when acting as placement agent in a private offering, broker-dealers must consider FINRA filing rules, general know-your-customer and suitability requirements as well as statutory liability under Dodd-Frank and the SEC antifraud provisions. Even when a broker agrees to act as placement agent, it can often be difficult to locate investors for small companies. It would be helpful if unlicensed individuals could refer investors to such a broker-dealer, who would then ensure that proper disclosure has been made to the investor, and that the investment is suitable for such investor. However, FINRA Rule 2040 prohibits the payment of transaction-based compensation by member firms to unregistered persons. FINRA Rule 2040 expressly correlates with Section 15(a) of the Exchange Act and prohibits the payment of transaction-related compensation unless a person is licensed or properly exempt from such licensing. Rule 2040 prohibits member firms from directly or indirectly paying any compensation, fees, concessions, discounts or commissions to: (1) any person that is not registered as a broker-dealer under SEA Section 15(a) but, by reason of receipt of any such payments and the activities related thereto, is required to be so registered under applicable federal securities laws and SEA rules and regulations; or (2) any appropriately registered associated person, unless such payment complies with all applicable federal securities laws, FINRA rules and SEA rules and regulations. FINRA guidance on the Rule states that a member firm can (i) rely on published releases, no-action letters or interpretations from the SEC staff; (ii) seek SEC no-action relief; or (iii) obtain a legal opinion from an independent, reputable U.S. licensed attorney knowledgeable in the area. This list is not exclusive and FINRA specifically indicates that member firms can take any other reasonable inquiry or action in determining whether a transaction fee can be paid to an unlicensed person. FINRA Rule 2040 specifically allows the payments of finders’ fees to unregistered foreign finders where the finder’s sole involvement is the initial referral to the member firm of non-U.S. customers and certain conditions are met, including but not limited to that (i) the person is not otherwise required to be registered as a broker-dealer in the U.S.; (ii) the compensation does not violate foreign law; (iii) the finder is a foreign national domiciled abroad; (iv) the customers are foreign nationals domiciled abroad; (v) the payment of the finder’s fee is disclosed to the customer; (vi) the customers provide written acknowledgment of receipt of the notice related to the payment of the fee; (vii) proper records regarding the payments are maintained; and (viii) each transaction confirm indicates that the finder’s fee is being paid. #LegalAndComplianceLLC
Views: 629 LawCast with Laura Anthony, Esq.
US broker-dealer regulations can either provide the first step to expansion into the United States market for certain institutions—or a trap for the unwary. This webinar provides an overview of broker-dealer regulations, including basic registration requirements, available exemptions for private fund managers and recent SEC enforcement actions against firms marketing private funds in violation of US requirements. Topics include: • The basics – what to do if a manager wants to register • The exemptions – what to do if a manager wants to avoid registration at all costs • What can go wrong? Surprising fact patterns and unexpected wrinkles for asset managers
Views: 158 Dechert LLP
What is a broker-dealer? In this video, we continue exploring the marketplace stack as we move towards trading. Referenced links: https://www.nyse.com/markets/nyse/membership https://www.sec.gov/reportspubs/investor-publications/divisionsmarketregbdguidehtm.html#II http://www.finra.org/investors/brokers https://www.coinbase.com/legal/user_agreement Follow deeplizard: YouTube: https://www.youtube.com/deeplizard Twitter: https://twitter.com/deeplizard Facebook: https://www.facebook.com/Deeplizard-145413762948316 Steemit: https://steemit.com/@deeplizard Instagram: https://www.instagram.com/deeplizard/ Support deeplizard on Patreon: https://www.patreon.com/deeplizard Support deeplizard with crypto: Bitcoin: 1AFgm3fLTiG5pNPgnfkKdsktgxLCMYpxCN Litecoin: LTZ2AUGpDmFm85y89PFFvVR5QmfX6Rfzg3 Ether: 0x9105cd0ecbc921ad19f6d5f9dd249735da8269ef Recommended books on AI: The Most Human Human: What Artificial Intelligence Teaches Us About Being Alive: http://amzn.to/2GtjKqu Recommended books on trading: --Beginner-- Real Money: http://amzn.to/2pDaf15 --Intermediate-- The Daily Trading Coach: http://amzn.to/2pA7Uni --Advanced-- The Black Swan: http://amzn.to/2GjusT4 Antifragile: http://amzn.to/2IKOvbn Skin in the Game: http://amzn.to/2pwbTBo Coinbase sign up (You get $10 in BTC & we get $10 in BTC): https://www.coinbase.com/join/5934c12567d6760847b9a8dd GDAX playlist: https://www.youtube.com/playlist?list=PLZbbT5o_s2xr17PqeytCKiCD-TJj89rII Crypto hardware wallets: Ledger Nano S: http://amzn.to/2FZGP7y Trezor: http://amzn.to/2FZHs0U
Views: 3302 deeplizard
Financial Markets (2011) (ECON 252) As the starting point for this lecture, Professor Shiller contrasts the view of economics as the theory of the allocation of scarce resources with the view of economics as the study of exchange. After a discussion of the difference between brokers and dealers, he outlines the history of securities exchanges from ancient Rome, to the Amsterdam Stock Exchange and Jonathan's Coffee House in London, until the formation of the New York Stock Exchange. He complements this historic account with an overview of securities exchanges all over the world, covering India, China, Brazil, and Mexico. An example of a limit order book allows him to elaborate on the mechanics of trading at the National Association of Securities Dealers Automatic Quotation System (NASDAQ). Subsequently, he turns his attention to the growing importance of program trading and high frequency trading, but also discusses their impact on the stock market crash from October 19, 1987, as well as on the Flash Crash from May 6, 2010. When talking about fairness in financial markets, particularly with regard to the relation between private investors and brokers, he discusses the National Market System (NMS), the Intermarket Trading System (ITS), and consolidated quotation systems. He concludes this lecture with some reflections on the operations of dealers, addressing the role of inside information and the Gambler's Ruin problem. 00:00 - Chapter 1. Exchange as the Key Component of Economic Activity 05:50 - Chapter 2. Brokers vs. Dealers 12:25 - Chapter 3. History of Stock Exchanges around the World 24:28 - Chapter 4. Market Orders, Limit Orders, and Stop Orders 36:15 - Chapter 5. The Growing Importance of Electronic Trading 44:46 - Chapter 6. Instabilities Related to High Frequency Trading 59:14 - Chapter 7. The Frustrations as Trading as a Dealer Complete course materials are available at the Yale Online website: online.yale.edu This course was recorded in Spring 2011.
Views: 69909 YaleCourses
FINRA created a new Broker Dealer registration category that allows for limited supervision and regulation of entities not engaged in active trading or management of client funds. The Capital Acquisition Broker (CAB) Rule Set is scheduled to take effect on April 14, 2017. This webinar discusses what the CAB rule set is, how it affects Broker Dealers and other types of firms, the regulatory requirements of a CAB and some of the pros and cons of registering as a CAB.
Views: 371 Cordium
So many people want to know how much do freight brokers make per load? Or in your case, how much do auto transport brokers make? If you are an inspiring broker or a car hauler looking to figure out what is a freight broker commission structure like or auto transport broker income, then this video is for you. ---------------- Are you an auto transport broker, auto transport agent or a car hauler? Come party with us in the Car Shipping Lounge, a private email club. It's FREE!: http://eepurl.com/cexcDv Become a Freight Broker who specializes in Auto Transport by joining my auto transport broker training course: www.reloacademy.com You can Join the ReloGeek Family at: www.facebook.com/relogeek See you in the next video! Love you guys!
Views: 91372 ReloGeek, LLC
Always wanted to start my own premium auto sales business and now is the time to start building. It's going to be a dope family venture so stay tuned!! HAIR PRODUCTS: http://chee-ping.com INSTAGRAM: http://instagram.com/nicoversace FACEBOOK: https://www.facebook.com/nicoversace1 NEW CHANNEL: https://www.youtube.com/c/nicokiana?sub_confirmation=1
Views: 8838 NicoVersace
Join us for an exploration into: • What is a security? The ’33 Act and beyond. • Are you unwittingly providing a safe harbor to a foreign firm? o Definition of a Broker-Dealer Under Rule 3(a)(4) and 3(a)(5) o In depth look at SEC Rules on chaperoning • What business revenue should be run through a broker-dealer? • New alternative solution to broker-dealer registration – Capital Acquisition Broker (CAB).
Views: 72 NCS Regulatory Compliance
BUYING MERCEDES FROM COPART CAR AUCTION WITH NO LICENSE ► Our Website: http://mechaniclifestyle.com Hey guys, we have been looking for a new project family sedan and we always liked the way the Mercedes W204 Sport Package looks. We found one right next to us in Los Angeles but we could not bid on Copart Vehicles in California because you have to have a dealers license. So we found a way around it. We used AutoBidMaster broker to get this car. Check out the buy and the whole car will be taken apart for videos soon. We will have video explaining how to use AutoBidMaster soon. Products used in the video: ► Tow Dolly: http://amzn.to/2F726HS ► Straps: http://amzn.to/2oC0Tlk ► OUR MAIN CHANNEL: http://bit.ly/2ad33QG ► BMW E46 ZHP PROJECT http://bit.ly/2g8tOa9 ► 2013 GT86 Project Playlist: http://bit.ly/2dz4xY1 ► 2015 Ford Fiesta ST BUILD Playlist: http://bit.ly/2a59UKp ♦♦♦ Cameras & Gear Used For This Video ♦♦♦ •Cameras Panasonic Lumix FZ300 http://amzn.to/2BNWtNA •Tripod Polaroid 72-inch http://amzn.to/2iVTmP4 •Microphone Polaroid Pro Video Condenser http://amzn.to/2krpSsA •Light NEEWER 160 LED CN-160 Dimmable http://amzn.to/2jjg9Bd •Comuter for editting Lenovo ideapad 310 http://amzn.to/2kqUNFl ♦♦♦ Other Equipment and Gear that I use ♦♦♦ •Camera Sony HD Video Recording HDRCX405 http://amzn.to/2jk8nqB •GoPro HERO5 Black http://amzn.to/2ktNKfj •Extra Computer For Editting Lenovo Ideapad 510 http://amzn.to/2ktOuB7 ► Like Us on FACEBOOK: https://www.facebook.com/worldmechanicsofficialpage ► LIKE & SUBSCRIBE for MORE DIY VIDEOS that could SAVE YOU BIG $$$$$$$ !!! This is not a sponsored video. Everything is purchased by us! The video is meant for entertainment purposes only. Do not Attempt! AMAZON ASSOCIATES DISCLOSURE Auto Repair Guys is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com *Disclaimer We, Auto Repair Guys, are not responsible for property damage or injury incurred as a result of any of the information contained in this video. Information given in this video does not guarantee the desired outcome. Any injury, damage or loss that may result from improper use of the tools, equipment, or the information contained in this video is the sole responsibility of the user and not Auto Repair Guys.
Views: 141804 Auto Repair Guys
The US Securities and Exchange Commission (SEC) has proposed its comprehensive standard of conduct rules, forms and interpretation, which would: Require registered investment advisers and registered broker-dealers to provide a brief relationship summary to retail investors Establish a standard of conduct for broker-dealers when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer Provide an interpretation regarding the fiduciary standard of conduct for investment advisers Join Eversheds Sutherland for a webcast on May 8 as we help you analyze the proposed rules, forms and interpretation and dive into the many practical considerations that arise from the proposal, including: How does a broker-dealer standard of conduct differ from an adviser’s fiduciary obligations? What operational issues arise with the required disclosures? What will advisers need to do to satisfy the SEC’s fiduciary standard of conduct?
Views: 56 Eversheds Sutherland US
Have you ever considered being an FFL (Federal Firearm License Dealer)? We have Steve from Michigan Arms answering questions about the process. http://www.youtube.com/subscription_center?add_user=thefirearmguy Please subscribe, share, thumbs up and add me to your google+ and circles. Here is my playlist for various Handgun reviews - https://www.youtube.com/playlist?list=PLAzscUahKCcZd9BlKXyIBX4uoYI0cruyt Here is my playlist for Rifle and Shotgun reviews - https://www.youtube.com/playlist?list=PLAzscUahKCcaXQ6rApIeMtOcRKXO57oTy Here is my playlist called Fighting for the 2nd Amendment - https://www.youtube.com/playlist?list=PLAzscUahKCcaXQ6rApIeMtOcRKXO57oTy Here is my playlist for other Gear & Accessory reviews - https://www.youtube.com/playlist?list=PLAzscUahKCcZ-OdZy1AWM9nw6YXVFfI00 Here is my playlist for range test reviews - https://www.youtube.com/playlist?list=PLAzscUahKCcbOdAWWrdxv0zRKokXBrkwI Twitter @ https://twitter.com/thefirearmguy
Views: 53642 TheFireArmGuy
Can small to midsize Independent Broker Dealers survive in the environment we are in today? The Independent Broker Dealer environment has become increasingly challenging. Consolidation is happening at a steady pace and advisors are taking notice. There has been a lot of discussion surrounding whether small, under 150-advisor broker dealer to midsize, 150-500 advisor broker dealers can make it. It’s common for advisors and Industry executives to look to scale and excess net capital to try to determine if a firm is poised for long-term success. And while these two factors play a part in a broker dealer’s long-term success, there are two other factors that tell a bigger story. 1) Does the broker dealer have a lot of value added services and do they have a clear and consistent value proposition? 2) Does the broker dealer invest into technology that will attract advisors today and into the future? There are plenty of quality broker dealers that are not only surviving, but are thriving.
Views: 225 Cross Search
Are you a car dealer or in the process of getting your dealers license. Where are you at in the process? Please fill out my online application. https://flipcars4profit.com/strategy-session/ Facebook Group: https://www.facebook.com/groups/1049111171822975/
Views: 568 Greg Boasberg
CLICK HERE: http://dealer-license.com for resources for getting a dealer license. BBB A+ Rated Business Watch the video and you'll see a dealership that conforms to the rules but you'd never know it is a car "lot". You'll be surprised when you see it. It should encourage you to explore the possibilities of getting your own license. Does that sound good? Does the need for a car lot to get your dealer license make it seem impossible for you to get a dealer license? It doesn't have to be. This video will show you ONE way you can use to have your car dealership license without a lot. There are others. You'll learn you have to be able to understand and translate the bureaucratic language of your state's licensing department. The secret in reading the dealer license requirements about the business location requirements is to NOT interpret them with preconceived ideas of a used car business. You'll see examples of business location requirements from the Texas dealer license requirements; California dealer license requirements and Colorado dealer license requirements. You do have to have a business location for your license. You cannot sell cars from your home..... unless it happens to be zoned commercial. I know of one like that, just a few miles from me. He has the cars parked in the grass in his front yard! But most of us are not that lucky, so we need to know some inside info on getting your car dealer license without a lot. One way on how to get your dealer license without a lot is explained here.
Views: 212411 Don Massey
Links to applications and forms here: http://blog.suretysolutions.com/suretynews/how-to-get-a-florida-used-car-dealer-license-in-12-steps Links to Florida Statutes regarding dealership location: http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0300-0399/0320/Sections/0320.27.html Have questions about how to get licensed? Leave us a comment or call us at 866-722-9239. We are here to help!
Views: 13931 Surety Solutions
LawCast Guide to Broker-Dealer Registration and Finders Fees- Periodically, and most recently in April 2008, the SEC updates its Guide to Broker-Dealer Registration explaining in detail the rules and regulations regarding the requirement that individuals and entities that engage in raising money for companies must be licensed by the SEC as broker-dealers. On a daily basis, thousands of individuals and entities offer to raise money for companies as “finders” in return for a “finder’s fee.” Other than as narrowly set forth above, such agreements and transactions are prohibited and carry regulatory penalties for both the company utilizing the finders’ services, and the finders. Each of the following individuals and businesses is required to be registered as a broker if they are receiving transaction-based compensation (i.e., a commission): • "finders," "business brokers," and other individuals or entities that engage in the following activities: o Finding investors or customers for, making referrals to, or splitting commissions with registered broker-dealers, investment companies (or mutual funds, including hedge funds) or other securities intermediaries; o Finding investment banking clients for registered broker-dealers; o Finding investors for "issuers" (entities issuing securities), even in a "consultant" capacity; o Engaging in, or finding investors for, venture capital or "angel" financings, including private placements; o Finding buyers and sellers of businesses (i.e., activities relating to mergers and acquisitions where securities are involved); • investment advisers and financial consultants; • persons that market real estate investment interests, such as tenancy-in-common interests, that are securities; • persons that act as "placement agents" for private placements of securities; • persons that effect securities transactions for the accounts of others for a fee, even when those other people are friends or family members; • persons that provide support services to registered broker-dealers; and • persons that act as "independent contractors," but are not "associated persons" of a broker-dealer (for information on "associated persons," see below). #LegalAndComplianceLLC
Views: 285 LawCast with Laura Anthony, Esq.
This video is a continuation of the series on Flipping Cars.DEALER EDUCATION, Learning the used car bussiness, How to buy and sell cars Please Shop and see all The Car Mans Favorite Products & Tools https://www.amazon.com/shop/jamiejonesthecarman Please join our community it would mean The WORLD To Us !!! Thank you for letting us be a part of your world. https://www.instagram.com/jamiejones_thecarman/ https://www.facebook.com/JamieJonesTheCarMan1/ https://twitter.com/JamieJo27129249
Views: 56187 JamieJones TheCarMan
Getting your wholesale auto dealer license made easy! Check out our easy to understand tutorial on how to become a nationally licensed wholesale car dealer. US Dealer Licensing has all of the answers you've been looking for. Give us a call or visit our website and we would be happy to answer your additional questions! | (573) 525-9999 | http://www.usdealerlicensing.com/
Views: 950 US Dealer Licensing
Learn how to get your dealers license in as little as 21 days without all of the hassle here: https://www.get-your-dealers-license.com/ Read the Blog Here: https://howtobuyandsellyourcars.com/how-to-easily-get-your-dealers-license/ Hi, it’s Tony. Thanks for watching my video and checking out the blog. Today, let’s talk about How To Easily Get A Dealers License. I’m working on my 2000 BMW Z3 M edition. I got a new oil and I’m going to run a synthetic on it. I just picked this up not too long ago. I got it with 38,000 miles and put about 500 miles on it so far. It runs excellent and it’s very clean. I’m the second owner. It’s only the 240-horsepower version because it’s a 2000 model but this car runs really fast if you compare it with a Miata. A lot of people ask me if they need to get their dealers license. They want to flip more than the legal limit per year. You can flip more than five to seven cars per year under your name or spouse’s name or other family members. That’s not a problem. You’ll be making fourteen to twenty-five thousand dollars per year extra income. Some people are happy with that and it’s easy to do. I’ll show you how to do all these step-by-step in the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars course. I looked into getting a dealers license and it’s very costly. So, what should you do? There are two ways to get your dealers license. First option is to go all out legitimately. Find yourself a car lot, you need to get a bond, you need to have a location with a physical handicapped restroom. These are most of the requirements in most of the states. This type of set up can cost you about fifty to one hundred and fifty thousand dollars to get started. A lot of people don’t have that kind of money. Yet, they still want to take it to the next level. They want to get their dealers license and flip twenty to fifty cars per year. And, profit three to four thousand dollars on each flip. The second option is to partner with a dealer. You can do this very inexpensively. A couple of years ago, I was skeptical about this subject. But, I came across some people who are successfully doing it. I partnered with someone who created a manual with a step-by-step system so you don’t need to go through all the headaches and lay out one hundred to one hundred fifty thousand dollars to get a physical location. This manual shows you how you can successfully partner with a dealer and use their license to go to any dealer auction in the fifty states, get your dealer plate and deals cars as an agent. If you want to learn more, check out GetYourDealersLicense and get all the information you need to do this for a very minimal cost. It will save you hundreds of thousands of dollars. I hope this video helped you out. Please comment below and let me know your thoughts, Like and Share my video. I will speak to you soon. Have a great day! Cheers! -Tony Get F1 Now and take your car flipping business to the next level!: profit: https://howtobuyandsellyourcars.com/join-f1-now/ Learn More How You Can Get A Dealer License To Buy And Sell Cars For Profit. Check Out https://www.getyourdealerslicense.com F1 Course and YouTube Disclaimer: https://howtobuyandsellyourcars.com/course-and-youtube-disclaimer/
Views: 75960 BOSS FLIPPER - Secrets To HIGH PROFIT Car Flipping
► Get the FREE Car Flip Roadmap--the step by step guide I use every day flipping cars: https://thecarflip.com/roadmap ▼▼▼ More Below ▼▼▼ In this episode, I answer a few questions from a member of our email list. Pretty much all these questions have to do with him contemplating getting his dealer's license. If you're in the same boat, hopefully my answers help give you a good idea of what starting a dealership entails. The questions answered include the following: What do you think is the start up capital required to open up a dealership? What are the main factors to your month to month dealership overhead? What are the requirements for getting a floor plan? I really appreciated the video you made on this before. If a dealer loans me his license and lets me work under him as a "salesmen", can I still apply for a floor plan? Can you go through more examples of floor plans, such as vehicles you currently have, more pricing examples? What sort of credit score do you need for a floor plan? Can you give us floor plan companies? I understand you have a mechanic, do you pay him by the job? What were the noticeable differences that you came across from flipping cars to running a dealership that you had to overcome? Thanks so much for watching! If you have any questions, feel free to ask!
Views: 16811 The Car Flip with Justin Carper
Veritaseum (VERI) Jumps 10% as the US Regulators Accept Broker/Dealer License Application The network has lately applied for a broker/dealer license in the United States and the good news is that it was accepted. However, this does not mean it has been approved. Veritaseum (VERI) team is looking forward to the time they will be allowed to function as a fully-fledged broker/dealer of “sec... ► SUBSCRIBE FOR MORE VIDEOS: https://goo.gl/NYaHq2 ► Bitcoin News -Alt Coin news - coin telegraph - coindesk - coin market cap https://goo.gl/45UVFu ★★★ Thanks for watching! Please leave a like if you enjoyed and tell me what you think in the comments! Thanks ★★★
Views: 66 CoinKorea
Get the latest interview tips,Job notifications, top MNC openings, placement papers and many more only at Freshersworld.com( https://www.freshersworld.com?src=Youtube ). Here is a video on “Careers on Stock Broker ” by a softskill trainer “Krupa”. Make a note about all the points and turn your skill to profession. Hope this information helps you in getting your dream job. Freshersworld.com is the No.1 job portal for freshers jobs in India. Check Out website for more Jobs & Careers. http://www.freshersworld.com?src=Youtube Download our app today to manage recruitment when ever and where ever you want : Link :https://play.google.com/store/apps/details?id=com.freshersworld.jobs&hl=en ***Disclaimer: This is just a training video for candidates and recruiters. The name, logo and properties mentioned in the video are proprietary property of the respective organizations. The Preparation tips and tricks are an indicative generalized information. In no way Freshersworld.com, indulges into direct or indirect promotion of the respective Groups or organizations.
Views: 68061 Freshersworld.com Jobs & Careers
Marketing has become an area of both great importance for hedge fund managers seeking to grow their funds in an increasingly competitive market, and great concern for the U.S. Securities and Exchange Commission (SEC) who believe many managers are conducting themselves in ways that should require registration as a broker-dealer. In this webinar, we discuss the need for fund managers to use a registered broker-dealer in the current regulatory environment, including a review of the Ranieri Partners decision, which gives insight on the SEC’s thinking in this area. We also cover an array of practical issues related to hedge fund marketing, including Form D disclosure, FINRA Capital Acquisition Broker (CAB) Rules, target and related performance and promises/guarantees. Finally, we address issue arising from marketing in the non-institutional space, such as FINRA Filing requirements under Rule 5123.
Views: 279 Dechert LLP
Travis Jennings, Finance C.A.P.E. http://financecape.com/ In this video, Travis Jennings explains the difference between a Broker and a Broker Dealer. Do you know the difference?
Views: 276 Finance CAPE
Within the SEC, there are five divisions. Headquartered in Washington, D.C., the SEC has 11 regional offices throughout the US. The SEC's divisions are: Corporation Finance Trading and Markets Investment Management Enforcement Economic and Risk Analysis Corporation Finance is the division that oversees the disclosure made by public companies, as well as the registration of transactions, such as mergers, made by companies. The division is also responsible for operating EDGAR. The Trading and Markets division oversees self-regulatory organizations such as the Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB) and all broker-dealer firms and investment houses. This division also interprets proposed changes to regulations and monitors operations of the industry. In practice, the SEC delegates most of its enforcement and rulemaking authority to FINRA. In fact, all trading firms not regulated by other SROs must register as a member of FINRA. Individuals trading securities must pass exams administered by FINRA to become registered representatives. The Investment Management Division oversees registered investment companies, which include mutual funds, as well as registered investment advisors. These entities are subject to extensive regulation under various federals securities laws. The Division of Investment Management administers various federal securities laws, in particular the Investment Company Act of 1940 and Investment Advisers Act of 1940. This division's responsibilities include: assisting the Commission in interpreting laws and regulations for the public and SEC inspection and enforcement staff; responding to no-action requests and requests for exemptive relief; reviewing investment company and investment adviser filings; assisting the Commission in enforcement matters involving investment companies and advisers; and advising the Commission on adapting SEC rules to new circumstances. The Enforcement Division works with the other three divisions, and other Commission offices, to investigate violations of the securities laws and regulations and to bring actions against alleged violators. The SEC generally conducts investigations in private. The SEC's staff may seek voluntary production of documents and testimony, or may seek a formal order of investigation from the SEC, which allows the staff to compel the production of documents and witness testimony. The SEC can bring a civil action in a U.S. District Court, or an administrative proceeding which is heard by an independent administrative law judge (ALJ). The SEC does not have criminal authority, but may refer matters to state and federal prosecutors. The director of the SEC's Enforcement Division Robert Khuzami left the office in February 2013. Among the SEC's offices are: The Office of General Counsel, which acts as the agency's "lawyer" before federal appellate courts and provides legal advice to the Commission and other SEC divisions and offices; The Office of the Chief Accountant, which establishes and enforces accounting and auditing policies set by the SEC. This office has played a role in such areas as working with the Financial Accounting Standards Board to develop Generally Accepted Accounting Principles, the Public Company Accounting Oversight Board in developing audit requirements, and the International Accounting Standards Board in advancing the development of International Financial Reporting Standards; The Office of Compliance, Inspections and Examinations, which inspects broker-dealers, stock exchanges, credit rating agencies, registered investment companies, including both closed-end and open-end (mutual funds) investment companies, money funds. and Registered Investment Advisors; The Office of International Affairs, which represents the SEC abroad and which negotiates international enforcement information-sharing agreements, develops the SEC's international regulatory policies in areas such as mutual recognition, and helps develop international regulatory standards through organizations such as the International Organization of Securities Commissions and the Financial Stability Forum; The Office of Investor Education and Advocacy, which helps educate the public about securities markets and warns investors of fraud and stock market scams; The Office of Economic Analysis, which helps the SEC estimate the economic costs and benefits of its various rules and regulations; and The Office of Information Technology, which supports the Commission and staff in information technology, including application development, infrastructure operations. and engineering, user support, IT program management, capital planning, security, and enterprise architecture. The Inspector General. The SEC announced in January 2013 that it had named Carl Hoecker the new inspector general. He has a staff of 22. https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission
Views: 6151 Way Back
An "#OfficeHours with Michael Kitces" Periscope, talking about if Broker-Dealers are drowning in their own lowest common denominator compliance standards. For further details, see https://www.kitces.com/blog/broker-dealer-compliance-lowest-common-denominator-recruiting-standards/
Views: 620 Michael Kitces
Florida Broker Dealer Registration Exemptions- Following the SEC’s lead, effective July 1, 2016, Florida passed a statutory exemption from the broker-dealer registration requirements for entities effecting securities transactions in connection with the sale of equity control of private operating businesses (“M&A Broker”). A plain reading of the federal and Florida broker dealer exemptions for M&A Brokers would allow a non-registered broker to perform services and collect a fee for a reverse or forward merger transactions with a non-shell company that is either completely private or that is an alternatively reporting OTC Pink or OTCQX traded company. The Florida statute does not refer to the federal definition of public shell company but rather provides its own definition. The Florida M&A broker exemption defines a “public shell company” as a company that, at the time of a transaction with an eligible privately held company: (a) has any class of securities which is registered, or which is required to be registered with the SEC under the Securities Exchange Act of 1934, or for which the company files, or is required to file, periodic reports under the Exchange Act; (b) has nominal or no operations; and (c) has nominal or no assets or assets consisting solely of cash and cash equivalents. Accordingly, the Florida definition of public shell company does not include public companies that do not file reports with the SEC, such as companies that trade on and alternatively report to the OTC Pink or OTCQX tiers of OTC Markets. The federal definition of shell company, at least the definition in Rule 144 does not limit the company to one that has a class of securities registered under the Exchange Act or that is required to or files reports with the SEC. The federal definition of a shell company in Rule 144 includes any issuer of securities. Since both the federal and state broker registration exemption must be satisfied, completing a transaction with any shell company would be problematic for a non-registered broker. However, completing a transaction with a non-reporting, non-shell company, and collecting a fee as an M&A broker, is not difficult and is clearly allowed. The requirement that the transaction not be registered or required to be registered is easily met. The vast majority of reverse mergers and forward acquisitions are completed using an exemption from registration such as Rule 506. Furthermore, it appears that Florida is contemplating reverse merger and forward acquisition transactions with public companies by specifically addressing exchange offers and requiring financial information and statements and certain disclosure documents in an exchange offer.
Views: 116 LawCast with Laura Anthony, Esq.
http://Cross-Search.com For a confidential call, please contact us at 800-247-3272 Welcome to Cross Search. Sometimes finding your way to a new broker dealer can feel like navigating your way through a maze. With hundreds of broker dealers to choose from, it can be difficult to find a new firm all while continuing to run your business. Our firm's decades of experience have equipped us to guide you through the process and help you find the best broker dealer for YOUR needs in an efficient non-complicated way. Hi, I'm Jodie Papike- Cross Search has successfully helped thousands advisors in their quest for change. In 1989 my father started our business on the premise that advisors needed a source that could add value and efficiency in finding their ideal broker dealer. Since that time we have developed relationships with and learned the ins and outs of all of the major independent broker dealers. We realize that changing broker dealers is a huge step. We know that you are placing your business and your future in our hands and I personally take that trust very seriously. But, believe me, your trust is well-placed. Whether you are an advisor coming from a bank, a wire house, or are already Independent, you have found the resource to help you navigate through this challenging process. If you would like to know more about the process or would like to explore your options, please give us a confidential call. We look forward to hearing from you. San Diego, growing your business with video, homepage video, video production, editing, online video commercials
Views: 12753 Cross Search
http://www.BuySilverAtCost.com Would you like to be able to buy all of your silver and gold at true WHOLESALE prices? Now you can. And you don't even have to get your broker/dealer license to do it. Introducing the "First Of It's Kind", private, Gold and Silver Wholesale Buyers Club. What was formerly reserved for a very few rich guys...is now available to the public. The Club buys direct from the 10 exclusive distributors who buy directly from the US Mint...and you pay the EXACT same price that our club pays for it. The Club makes zero profit from the gold and silver you buy...none, nada, zip. The only profits are made from a small, annual membership fee. It's a totally concept and it's attracting thousands of smart investors who what to maximize their buying power. To find out more, go to: http://www.BuySilverAtCost.com Bullion Direct: Buy or Sell Precious Metals online, including Gold ... Bullion Direct® is your online source to buy and sell precious metals, including gold, silver, platinum, and palladium coins and bars. ... Nucleo Exchange - Catalog - Account Login - American Eagle Silver Coin (1.000 oz.) http://www.bulliondirect.com/ Silver, Silver Bar, Silver Bars, Silver Bullion, Gold and More ... We are constantly buying silver bullion items like: Silver American Eagles, Silver Canadian Maple Leafs, Silver Bars (1, 10, 100 & 1000 oz), and Silver ... Silver - Gold - APMEX.com - Top 40 Products - Buy Silver Bars http://www.apmex.com/ Shopping results for buy silver bullion NEW Buffalo/Indian Head Nickel Art Coin 1 TROY OZ .999 SILVER BULLION 2010 Silver American Eagle - West Point Mint - Investment Grade ... $1 Face Value 90% SILVER US Coins in gift bag - 90% Silver Bullion $36.95 - Amazon.com SILVERSAVER | Save HONEST money the EASY way | Invest in Silver ... Automatically save in silver for as little as $25 a week; ... safe, reliable way to invest in silver bullion, an asset that will provide security over time. ... ~Bill; SilverSaver gives me the opportunity to buy physical silver using a ... https://silversaver.com/ Silver Art Rounds, Silver, Silver Bar, Silver Bars, Silver Bullion ... 10 OZ SILVER BAR - REPUBLIC METALS CORP- .999 FINE SILVER BULLION ... Is America's Official Investment-Grade Silver Bullion Coin. ... WE BUY SILVER ... http://www.straightsilver.com/store/ How to Buy Silver Bullion Online | http://www.eHow.com How to Buy Silver Bullion Online. Buying silver bullion is the smartest investment you can make with your money. It is easier than ever to buy silver coins, ... http://www.ehow.com › ... › Investment › Buy Silver How Buy Silver Bullion Discover how buy silver bullion; secrets the government and private banks don't want you to know about preserve your wealth. http://www.economiccollapsesurvival.com/how-buy-silver/ - Cached - Similar Buying Silver, Buying Silver Coins, Junk Silver Coins Buying silver, especially buying silver coins from telemarketers, ... Gold coins, gold bullion, silver coins, and silver bullion are the best investments ... http://www.certifiedmint.com/myths_lies.htm Silver Bars, Silver Coins, Gold Coins and Bars, Palladium and ... As a United States Mint American Eagle program retailer we buy and sell American Eagle gold bullion, silver bullion, and platinum bullion coins, each with a ... http://www.bullion.nwtmint.com/ Buy Silver & Gold Coins, Bullion & Bars | Gold Silver Buy Buy Silver & Gold Coins. Protect Against Inflation • Protect Your Savings ... have fast become one of the most popular ways to invest in silver bullion. ... http://www.goldsilverbuy.com/ Silver - Silver Bullion Bars - Buy Silver Bars ... http://www.monex.com How to buy silver bullion and coins. By Nonkel ... Uploaded by nonkelroge http://www.youtube.com http://www.youtube.com/watch?v=J6DJ5VlI3Vg
Views: 14786 Doyle Shuler
Step By Step guide: https://californiausedcardealer.com https://californiausedcardealer.com IG: https://www.instagram.com/kenyonken___/ Twitter(Just made): https://twitter.com/_kenyonKen?lang=en Instagram: Kenyonken___ (3 underscores) Thanks for watching!
Views: 857826 KenyonKen
As the year comes to a close, compliance professionals know it’s time to tie up loose ends. Now is the time to inventory outstanding requirements, complete reviews, and finalize documentation. Join NCS Regulatory Compliance for a targeted discussion on year-end compliance for Broker-Dealers. We will provide an overview and best practices for: • Critical Testing & Inspections • Registration Renewals • Continuing Education • Annual Compliance Meeting • Last Call Reviews
Views: 26 NCS Regulatory Compliance
SEC Amendments to Broker Dealer Reporting and Financial Responsibility Rules
Views: 309 NCS Regulatory Compliance
How to buy cars at a dealer car Auto auction and get access without having a dealers license - Flying Wheels - * Follow our day to day @ www.Instagram.com/Flying_Wheels_ * * * * * how to get into a dealers car auction and how to get access to a dealer license become a used car dealer own a dealership used cars Buy Wholesale how to become a car dealer Ford Explorer Raptor Mustang Jeep Wrangler Chevy Camaro Dodge Challenger
Views: 100735 Flying Wheels
▶ Do you need help with your deal? ▶ Click the link below to book a 1 on 1 Coaching Call with Ari: ▶ http://goo.gl/eBzbyA ------------------------------------------ ***Help me reach 1,000 subs: https://tinyurl.com/y7qrg3ln *** Typically, the car broker model operates in a few different ways. A car buying service such as the one I operate revolves around charging the client a flat service charge of $295. There are various companies such as Boston Automotive Consulting that operate like this and are typically a one man or two man show. Car brokers in states that have specific licensing or recognize car brokers as a business, usually charge take a commission from the dealership. Typically this commission can range, and is left to the broker to decide how much money he'd like to make on the deal. Car buying services out there such as TrueCar are no different than your traditional car broker. They too also take a commission from dealerships for referrals or sales that come from their websites. For more information, please visit us online: https://www.BostonAutomotiveConsulting.com If you found this content useful, and you'd like to leave a gratuity, we'd kindly appreciate it :) https://bostonautomotiveconsulting.com/gratuity
Views: 2733 Ari Janessian
http://Cross-Search.com For a confidential call, please contact us at 800-247-3272 Running a broker dealer in today's environment is very difficult, but I don't have to tell you that, you already know it! Increased regulation, higher costs, fewer dollars going straight to the bottom line and a very competitive recruiting environment have all combined to make it less profitable to run your firm. My name is Larry Papike and I feel your pain. I too have owned and run my own B/D and I know what it's like to work harder, have more risk and make less. The good news is there are solutions to your situation Like, 1-cashing out 2-maintaining control but giving up the back office burden 3-finding a strategic partner We have been working in this space for over 20 years and have developed relationships with firms that may provide solutions that you weren't aware of. If you think it is time for you to explore your solution, give us a call.
Views: 12389 Cross Search
Mike Mullis shares his experience in finding the best broker dealer for his needs as an independent financial planner. To learn more about Securities America, visit: http://www.securitiesamerica.com http://www.securitiesamericafinancialinstitutionadvisor.com Follow us: http://www.twitter.com/SecuritiesAM http://www.facebook.com/SecuritiesAmericaInc http://www.linkedin.com/company/securities-america-inc-member-finra-sipc_326998
Views: 521 Securities America
Register for the conference here: http://www.nysscpa.org/epass/Meetings/Meeting.aspx?ID=23326 Speakers to attend: Ramirez, Maria/Maria Fiorini Ramirez Inc. Maulbeck, Matthew/EisnerAmper LLP Verrone, Stephen/Ernst & Young LLP Abramczyk, Jeffrey/HSBC Dailey, Paul/Rothstein Kass & Company P.C. Perez, Anthony/ACA Compliance Group Storelli, Gina/Sutton Advisory Services Corp. Stoltz, Marc/JRS Financial Services LLC Grumer, David/Citrin Cooperman LLP Pagano, Charles/WeiserMazars LLP Feldman, Richard/Maven Strategic Solutions LLC Rosenthal, Jeffrey/Anchin Block & Anchin LLP Purwin, Gary/FINOP, LLC Cavallone, John/Rothstein Kass & Company P.C. Macchiaroli, Michael/U.S. Securities & Exchange Commission Stupay, Michael/Integrated Investment Solutions LLC Dailey, Kris/FINRA Vanich, Barbara/Public Company Accounting Oversight Board Levinson, Marshall/FINRA Anderson, Ian/PCAOB Maday, Robert/PCAOB Nudge, Gerald/Commodity Futures Trading Commission
Views: 263 TheNYSSCPA
Regulation A; Exchange Act Section 12(g); State Law Pre-emption- Exchange Act Section 12(g) requires that an issuer with total assets exceeding $10,000,000 and a class of equity securities held of record by either 2,000 persons or 500 persons who are not accredited, register with the SEC, generally on Form 10, and thereafter be subject to the reporting requirements of the Exchange Act. Regulation A exempts securities in a Tier 2 offering from the Section 12(g) registration requirements if the company meets all of the following conditions: • The company utilizes an SEC-registered transfer agent; • The company remains subject to the Tier 2 reporting obligations; • The company is current in its Tier 2 reporting obligations, including the filing of an annual and semiannual report; and • The company has a public float of less than $75 million as of the last business day of its most recently completed semiannual period or, if no public float, had annual revenues of less than $50 million as of its most recently completed fiscal year-end. Moreover, even if a Tier 2 issuer is not eligible for the Section 12(g) registration exemption, that issuer will have a two-year transition period prior to being required to register under the Exchange Act, as long as during that two-year period, the issuer continues to file all of its ongoing Regulation A+ reports in a timely manner with the SEC. As I’ve touched on in this Lawcast series, Tier I offerings do not pre-empt state law and remain subject to state blue sky qualification. This process is expensive and time consuming. The NASAA offers a coordinated review program which can be helpful but a company still must comply with each state’s differing requirements and interpretations. Tier 2 offerings are not subject to state law review or qualification – i.e., state law is pre-empted. State securities registration and exemption requirements are only pre-empted as to the Tier 2 offering and securities purchased pursuant to the qualified Tier 2 for 1-A offering circular. Subsequent resales of such securities are not pre-empted. Also, pre-emption does not extend to broker dealer registration requirements. Five states do not have an issuer broker dealer exemption for public offerings such as a Regulation A. Those states are Florida, Texas, Arizona, New York and North Dakota. Also, Alabama and Nevada require that officers and directors that sell securities on behalf of a company, register as an agent. Both Tier 1 and Tier 2 offerings remain subject to state antifraud provisions, and states may require certain notice filings. In addition, states maintain the authority to investigate and prosecute fraudulent securities transactions.
Views: 81 LawCast with Laura Anthony, Esq.
Views: 13296 Forex Investors Alliance
http://www.ThePPMAttorney.com - Securities Attorney Darin Mangum discusses who would be eligible to raise capital for a private offering without being a broker dealer or holding a securities license. If you meet certain qualifications provide for in the SEC's non-exclusive "safe harbor" Exchange Act Rule 3a4-1, you could legally raise capital for your own private offering . . . but again, only if you qualify. If you are looking for a custom crafted private placement memorandum (PPM) or would like your PPM to be reviewed, please feel free to contact Darin directly as listed below. Darin offers a free, no-cost or obligation 30-minute consultation (a $200 value) about your PPM offering / business venture. Thanks for watching and subscribing! :-) Phone: (281) 203-0194 E-mail: [email protected] Website: ThePPMAttorney.com FOR GENERAL INFORMATION ONLY. NOT TO BE CONSTRUED AS LEGAL ADVICE. I'M NOT YOUR ATTORNEY UNLESS A DULY EXECUTED ENGAGEMENT LETTER EXISTS BETWEEN US. (c) 2018 DARIN H. MANGUM PLLC.
Views: 105 Darin Mangum
As 2018 quickly draws to a close, annual filings and year-end requirements are looming on the regulatory horizon: https://goo.gl/4hULeb Let our seasoned Compliance professionals do the heavy lifting. Contact CRC today to see how we can support your Compliance program. Contact us today: https://goo.gl/ibzBSC
Views: 29 Compliance Risk Concepts
Broker/Dealers - Brokerwebstation has an array of investment products for asset allocation... and they're ALL APPROVED by the regulatory bodies. Among the offerings: equities, options, ETFs, mutual funds, Variable Annuities, Money Market accounts, US Treasury and Municipal Bonds, CDs and several fixed income products. Brokerwebstation doesn't impose sales quotas. You are free to truly serve your clients and their investment goals. Now, let's consider another scenario: Say you'd like to have a money manager help manage your client assets, giving you more time to build your book. Brokerwebstation is proud to offer "the Advantage solution". This option lets one of our experienced money managers manage your clients' assets. You'll get reports you can review with your customers to show them the progress of their account. BWS also offers a suite of research tools. We're talking real time quotes, options data, stock screeners, interest rate apps, analyst rating, market movers, advanced charting, news and streaming portfolio management systems. That's a big suite! Brokerwebstation is also proud to announce its Argus Research. It gives investment pros the data to make decisions...with research on equities, bonds and mutual funds.
Views: 364 wallstreetetv
Views: 5198 Forex Investors Alliance
Rule 506 of Regulation D- Effective September 23, 2013, the SEC enacted Rule 506(c) resulting in the elimination of the prohibition against general solicitation and advertising in private offerings in which investments are strictly limited to accredited investors. Trailblazers such as realtymogul.com, circleup.com, wefunder.com and seedinvest.com proved that the model can work, and the rest of the capital marketplace has taken notice. Recently, more established broker-dealers have begun their foray into the 506(c) marketplace with accredited investor-only crowdfunding websites accompanied by marketing and solicitation to draw investors. Rule 506 Of Regulation D- The historical Rule 506 was renumbered to Rule 506(b) and issuers have the option of completing offerings under either Rule 506(b) or 506(c). Rule 506(b) allows offers and sales to an unlimited number of accredited investors and up to 35 unaccredited investors, provided however that if any unaccredited investors are included in the offering, certain delineated disclosures, including an audited balance sheet and financial statements, are required to be provided to potential investors. Rule 506(b) prohibits the use of any general solicitation or advertising in association with the offering. SEC interpretations and case law have established the principle that where there is a pre-existing, substantive relationship with offerees, offers will not be considered a general solicitation. Recently the SEC updated guidance on the questions surrounding the establishment of a pre-existing substantive relationships with offerees. As part of its guidance the SEC discussed presentations at conferences and venture fairs. Participation in a conference or venture fair does not automatically constitute general solicitation or advertising under Regulation D. Obviously, if a Company’s presentation does not involve the offer of securities at all, no solicitation is involved, though realistically the vast majority of company’s that participate in these conferences are doing so to raise capital. If the attendees of the event are limited to persons with whom either the company or the event organizer have a pre-existing, substantive relationship, or have been contacted through a pre-screened group of accredited, sophisticated investors (such as an angel group), a presentation will not be deemed a general solicitation. However, if invitations to the event are sent out via general solicitation to individuals and groups with no established relationship and no pre-screening as to accreditation, any presentation involving the offer of securities would be deemed to involve a general solicitation under Regulation D. So for instance, the upcoming annual Rodman & Renshaw Global Investment Conference is scheduled to be held from September 8th to September 10th at in New York City. More than 200 public companies from around the globe are expected to present to an audience of more than 2,000 attendees. Similarly, the National Investment Banking Association (NIBA) will have its next conference in New York City October 12-14. These events are not mass advertised, other than to past attendees and attendees are required to confirm accredited status at the time of purchasing tickets. Arguably a presentation at the conference would not involve a general solicitation. Conferences are a great way for companies to present themselves to a large group of potential investors, investment bankers and “industry types”. Most such conferences include corporate presentations and Q&A sessions, one on one side meetings and a general opportunity to meet and interact with each other. Although significant industry developments proliferate rapidly via electronic communication, there are large amounts of subtext that can only be learned by actually putting boots on the ground so to speak. In the age of the Internet it is still essential for professionals to get together in a productive atmosphere, shake hands and have direct human interaction so as to work together more efficiently. Regardless of the cutting edge communication platforms we so often rely upon, nothing can replace the human experience. Sometimes, it’s not what presenters or industry experts say in their presentations that spark the next great sector, but moreso the tone of the experts and attendees can be the more accurate barometer of what is happening in the industry overall. In an era when where information, communication and connecting with new OTC industry professionals is more important than ever, conferences such as the upcoming Rodman & Renshaw and NIBA events are becoming increasingly essential. Laura Anthony, Esq. Founding Partner Legal & Compliance LLC. 330 Clematis Street, Ste. 217 West Palm Beach, FL 33401 Phone: Toll Free: (800) 341-2684 FREE Local: (561) 514-0936 Email: [email protected] #LawCast
Views: 4875 Anthony L.G., PLLC A Corporate Law Firm
Views: 14939 Forex Investors Alliance