Jul 01, 2015 | News

Introducing Broker Compliance Reminders

  • June 30 1FRs Due to NFA on July 24, 2015.  This semi-annual unaudited financial statements must be submitted 17 business days after period end.  Use NFA Electronic Easy File System for this submission.
  • Complete your Annual Registration Update and Self-Examination Questionnaire upon NFA notification at your entity’s scheduled time
  • Conduct Annual AML Training for all relevant employees and complete an audit of your AML procedures.  If this is found by NFA to be delinquent, significant fines may be imposed. This must be completed within a 12 month period of your last Annual AML Report.  Please contact us if you need an Audit of your AML Procedures
  • Annual onsite inspection of every Branch Office
  • Send Privacy Policy to every current customer once every 12 months
  • Risk Disclosure Assessment.  The FCM that carries your accounts will be contacting your customers to verify that information remains materially accurate.  If the FCM notifies you of any material changes, you may need to provide additional risk disclosure based on the changed information
  • Test your Disaster Recovery Plan and adjust if necessary every 12 months
  • Complete Ethics Training as outlined in your firm’s Ethics Training Procedures

If you have any questions regarding your compliance needs, please contact mike@cogcpa.com or call 630-351-8942.