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.
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Jay Gettenberg
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Jay Gettenberg2025-01-06 15:46:062025-02-28 09:42:44Kicking Off January With A Bang, We’re Proud To Unveil Our Next Exciting Milestone: Our New Corporate Headquarters
SEC Footnote 74 Provides Alternative for Broker-Dealers Who Don’t Hold Customer Funds
/in Regulatory Updates/by Shannon SandersonThe 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.
Paycheck Protection Program Reopens; ACI Clients Receive Loan Approvals
/in News/by Shannon SandersonThe SBA-backed Paycheck Protection Program (PPP) reopened on April 27, 2020 with $320 billion in additional funding.
More than 75% of ACI’s clients who have applied under PPP have obtained official SBA loan numbers this past week.
Paycheck Protection Program: What Small Broker-Dealers Need to Know Now
/in Regulatory Updates/by Shannon SandersonThe window is now open for businesses to apply for SBA-backed Paycheck Protection Program loans under the $2.2 trillion CARES Act.
ACI is sharing relevant sections of FINRA’s guidance regarding the net capital treatment of covered loans.
Regulatory Extensions Announced for COVID-19
/in Informational, News, Regulatory Updates/by Shannon SandersonEffective March 20, 2020, FINRA released FAQs related to the COVID-19 pandemic and the impact the virus will have on small FINRA member firms meeting various FOCUS Report and annual audit requirements over the coming months.