FINRA members are required to compose and submit Financial and Operational Combined Uniform (FOCUS) reports to FINRA as required under the SEC Exchange Act Rule 17a-5. This rule was adopted in response to certain failures by broker/dealers holding customer funds and securities between 1968 and 1971.
The goal of this reporting is to enable customers to evaluate whether a broker or dealer is financially sound. Given the current state of the global economy, the functions of a FINOP are critical and likely to receive increased regulatory scrutiny.
Taurus Compliance Consulting, LLC includes an experienced staff and network of lawyers, accountants, and Series 27 professionals who can either assist your firmâ€™s FINOP or serve in a full capacity on behalf of your firm. Our FINOP services include, but are not limited to, the following:
- Rule 15c3-1 Net Capital Calculations and Analysis
- Completion of Form X-17a-5
- Complete Forensic Accounting Services
- Focus Report Review and Filing
- On-site Audit Support
- Balance and Income Sheet Certification
To find out more about Taurus financial services, call us on 1-888-963-9519.