NFA Certified Audit Deadlines
Introducing Brokers must file their annual certified audit no less than 90 days after fiscal year end. Therefore, if year end is 12.31.16 the certified audit is due to NFA no later than 3.31.17. The fine for late submission is $1000.00/business day.
NFA Pools must also file their annual certified audit no less than 90 days after fiscal year end. Therefore, if year end is 12.31.16 the certified audit is due to NFA no later than 3.31.17. The fine for late submission is $200.00/business day
Futures Commission Merchants must file their annual certified audit within 60 days after fiscal year end. Therefore, if year end is 12.31.16, the certified audit is due to NFA no later than 3.1.17. The fine for late submission is $1000.00/business day.
FINRA Certified Audit Deadlines
Broker Dealers must file their annual certified audit no less than 60 days after fiscal year end. Therefore, if year end is 12.31.16 the certified audit is due to SEC and FINRA and SIPC (if applicable) no later than 3.1.17. The fines for late submission are subject to disciplinary action and fines may vary depending on the circumstances.
Hedge Fund Certified Audit Deadlines
Hedge Funds that are Reg D are not required to have and submit an annual audit to regulators. However, Hedge Fund Managers should make sure that they are following the requirements set forth by their state’s securities division. Some states require an audit to be submitted on an annual basis. If Hedge Fund Managers have audit requirements within Disclosure Documents, investors and partners may expect to receive an annual audited report in the time frame indicated in the Disclosure Documents.