Financial Accounting Resources & News

Our expert team keeps up on the latest filings from the SEC, FINRA, and the IRS to ensure our clients can efficiently minimize costs and risks while simultaneously maximizing reporting accuracy.

ACI to Relocate to New Corporate Headquarters to Service Growing Broker Dealer Client Base

April 27, 2021

ACI formalizes move to a new, expansive office this summer to better serve its growing broker dealer client base

ACI’s Jay Gettenberg Is a Panelist for Upcoming Foundation for Accounting Education Discussion of Post-COVID Regulatory Issues

April 14, 2021

ACI Managing Partner, Jay Gettenberg, will join a teleconference of accounting professionals on May 5. They will discuss regulatory issues and considerations the securities industry faces in a post-COVID economy.

SEC Grants Additional 30 Days for Certain Broker-Dealers to File Annual Reports

February 16, 2021

Certain broker-dealers received much-needed relief this month when the Securities and Exchange Commission agreed to extend the annual audit filing deadline by 30 calendar days, cementing 90 days as the new regulatory obligation.

ACI’s Jay Gettenberg to Appear on Dec 8 FAE Broker Dealer Tech Session Teleconference

November 23, 2020

ACI Managing Partner, Jay Gettenberg, will join a teleconference of accounting professionals on December 8th to discuss regulatory issues and considerations the industry faces as the country heads into 2021.

What is a FinOp?

May 26, 2023/in Informational/by Jay Gettenberg

What is a Financial & Operations Principal (FinOp)? The Financial and Operational Principal (FinOp) is a role required by FINRA Rule 1200 Series (previously by NASD Rule 1022). The FinOp obtains qualification by passing the Series 27 or Series 28 examination. Upon registration, the FinOp becomes personally liable for the maintenance of the broker dealer’s […]

ACI’s Jay Gettenberg, Elizabeth Attanasio, to Attend FINRA Annual Conference in Washington, DC

May 10, 2022/in News/by Shannon Sanderson

ACI is returning to FINRA’s annual conference after the pandemic paused live events for two years.

New FAQ Clarifies FINOP Site Visit Requirements

September 24, 2020/in Regulatory Updates/by Shannon Sanderson

FINRA just clarified a question that has been a thorn in the side for many outsourced FINOPs and their broker-dealer clients for many years: Are FINOPs required to make on-site inspections of their clients’ records to fulfill their regulatory duties?

The short answer: No.

SEC Footnote 74 Provides Alternative for Broker-Dealers Who Don’t Hold Customer Funds

August 24, 2020/in Regulatory Updates/by Shannon Sanderson

The SEC recently provided non-carrying broker dealers with an alternative option as to how they can maintain their exemptive status under SEC Rule 15c-3-3.

ACI Managing Partner, Jay Gettenberg, has worked closely with the Public Company Accounting Oversight Board (PCAOB) and FINRA in recent years to address the practical reality that there are FINRA member firms who do not hold customer funds, yet do not technically qualify under any of the four exemptions listed on the X-17A-5 Focus Report.