Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Marty Lindle, one of our audit directors and one of the faces of PKF Texas’s Broker-Dealer team. Marty, welcome back to the playbook.

Marty: Great to be here.

Jen: What are some typical findings you see when you’re auditing the broker-dealers?


Continue Reading Deficiencies Auditors Find with Broker-Dealers

The SEC issued two final rules affecting broker-dealers and investment advisors in an open public meeting on June 5, 2019, which are effective September 10, 2019.

These new rules are designed to increase investor protections and require broker-dealers to adhere to a new standard of conduct, which goes beyond the basic suitability standards currently in place. Although this is still not equivalent to the fiduciary standard required by investment advisors, this new rule will result in big changes with broker-dealers and how they manage and avoid conflicts of interest.
Continue Reading Two SEC Rules Impact Broker-Dealers and Investment Advisors, effective Sept. 10, 2019

The Securities and Exchange Commission is extending the compliance date for the recently adopted amendments to Rule 606 of Regulation National Market System (“Regulation NMS”) under the Securities Exchange Act of 1934 (“Exchange Act”), which require additional disclosures by broker-dealers to customers concerning the handling of customer orders.

Business men and women meeting in background behind computer and data sheets.


Continue Reading SEC Broadens Compliance Dates for Rule 606 Amendments