ACI was honored to recently participate in the inaugural PKF O’Connor Davies Broker Dealer Symposium, where ACI CEO & Managing Partner Jay Gettenberg joined fellow industry leaders from InteliClear, Greenboard, STOUT, Mesirow Financial, Accelerate Partners and Softek for a wide-ranging panel discussion on the regulatory, operational and technological forces reshaping today’s broker-dealer landscape.
The event brought together compliance officers, regulatory professionals, auditors and service providers for a series of engaging conversations focused on emerging risks, new opportunities and the evolving requirements facing FINRA member firms.
Tokenization and the Emerging Path Toward T+0 Settlement
One of the central themes of the symposium was the increasing momentum behind tokenized securities. Panelists explored how blockchain-based representations of traditional assets could streamline settlement, enhance transparency and reduce operational friction across the trade lifecycle.
Closely tied to this conversation was the industry’s gradual movement toward T+0 settlement. While the move to T+1 in the US and Canada in 2024 and Europe’s anticipated transition in 2027 has dominated recent regulatory initiatives, many firms are already evaluating the processes and controls needed for intraday or instantaneous (sometimes referred to as “atomic”) settlement—particularly as distributed ledger technologies mature. The discussion further emphasized that while the technology is accelerating, the market’s operational and regulatory infrastructure must evolve in parallel.
AI’s Dual Impact on Cybersecurity and Regulatory Compliance
Artificial intelligence represents both an unprecedented opportunity and an escalating risk vector for financial firms. Panel participants examined how AI tools are being deployed to strengthen surveillance, automate controls and support real-time risk detection. At the same time, they acknowledged that AI has also broadened the threat landscape—enabling more sophisticated cyberattacks, data manipulation and phishing tactics.
Panelists agreed that firms will need to strike a careful balance: embracing AI’s efficiency gains while reinforcing governance, validation and supervisory frameworks to ensure regulatory compliance integrity.
The Shift to Daily 15c3-3 Calculations: Operational and Staffing Challenges Ahead
Another high-impact topic was the upcoming requirement for daily 15c3-3 customer reserve calculations, a fundamental shift from the weekly standard many firms have relied on for decades. The move promises enhanced customer protection but introduces significant operational complexity—including system upgrades, workflow redesign and heightened regulatory oversight.
Panelists also discussed a growing concern across the industry: the limited supply of qualified professionals capable of supervising customer protection obligations. As firms adapt to daily calculations, staffing, training and oversight models will become increasingly critical.
Navigating the Expanding Role of PCAOB Audits
The symposium concluded with a robust discussion on the expanding footprint of PCAOB audits across the broker-dealer ecosystem. Attendees explored both the cost implications and the operational burdens these audits introduce, as well as modern strategies to better manage and plan for them.
ACI’s perspective centered on how firms can remain audit-ready and control costs through proactive preparation and alignment with knowledgeable partners. ACI provides FINRA member firms with comprehensive FinOp and regulatory accounting services that directly address the pressures highlighted throughout the symposium – including daily 15c3-3 readiness, audit preparation, operational risk management and more.
As the go-to FinOp partner for broker-dealers who expect excellence, ACI brings full-service books and records management, FOCUS and net capital reporting, broker-dealer accounting expertise and scalable staffing and advisory support that help firms reduce friction, strengthen governance and maintain confidence amid evolving regulatory demands.
We extend our sincere thanks to Victor Peña and Don Melody, PKF O’Connor Davies partners who planned and coordinated the event, as well as to Stephen Murphy, who expertly moderated all three panels and helped guide a thoughtful, forward-looking agenda.
ACI is proud to have contributed to the conversation and to have represented our clients and partners alongside leaders across compliance, cybersecurity, operations and regulatory policy. As regulatory expectations grow, partnering with a knowledgeable, FINRA FinOp team becomes essential—especially for firms evaluating outsourced PFO models that can scale with complexity. We look forward to continuing the dialogue—and to participating as this valuable event becomes an annual tradition.
