ACI handles the compilation, review, and regulatory filing of FINRA FOCUS Reports for our clients through the preparation of the financial statements and the computation of net capital. ACI’s experienced, broker dealer focused team is made up of highly trained professionals. This provides several benefits as we assist member firms file all regulatory reports and manage the associated responsibilities. Our FinOps leverage their experiences across multiple clients to collectively become industry experts. The team uses extensive resources to address any potential regulatory question that may be presented. In addition to FOCUS report expertise, ACI has designed strong internal controls and processes that minimize lead time and ensure all reporting exceeds FINRA’s expectations.
SEC rule 17a-5 requires every broker dealer to prepare a net capital computation within 17 business days of month end. A FINRA Financial and Operational Combined Uniform Single (FOCUS) report includes a balance sheet, income statement, net capital calculation, and equity reconciliation. The intent is to demonstrate to regulators the financial position of the firm and its ability to maintain sufficient net capital.
While net capital compliance is required on a moment-to-moment basis, the formal submission of net capital computations to a Designated Examining Authority (DEA) is typically only required on a monthly/quarterly basis. This is done via the filing of a FOCUS Report, often submitted electronically using FINRA’s eFOCUS system to maximize security, accuracy, and proper documentation. Usually, ACI submits the formal report for member firms every month of the year.
Give us a call at 212-668-8700, or follow the contact form link below to learn more.