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.

Paycheck Protection Program Reopens; ACI Clients Receive Loan Approvals

May 4, 2020

The 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 Update

April 20, 2020

The SBA-backed Paycheck Protection Program (PPP) is on hold right now after more than 1.6 million loans were approved since initial launch on April 3, 2020.

ACI strongly supports an extension of the program and believes it will be vital in helping the country recover from the coronavirus pandemic.

Paycheck Protection Program: What Small Broker-Dealers Need to Know Now

April 6, 2020

The 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.

Relief Is in Sight

March 30, 2020

The $2.2 trillion CARES Act contains key provisions, which may directly assist small broker-dealer firms in weathering the COVID-19 pandemic crisis.

While the provisions of the CARES Act are still being reviewed, we want to share with you some points that may assist you with retaining your employees and keeping your operations running as smoothly as possible.

ACI Listed as a Member of FINRA’s Compliance Vendor Directory

May 15, 2017/in News/by Jay Gettenberg

Effective this week, the Financial Industry Regulatory Authority will be going live with their new Compliance Vendor Directory (CVD), a comprehensive list of service providers in nine distinct categories, as follows: 1. Compliance Consulting 2. Cybersecurity 3. Data Management 4. Email & Social Media Archive 5. Exam Prep & Firm CE 6. Insurance Brokers 7. […]

The Impact of PCAOB and How ACI Can Help Reduce Audit Fees

April 27, 2017/in Regulatory Updates/by Shannon Sanderson

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 designated the Public Company Accounting Oversight Board as the regulatory agency responsible for overseeing the audits of all broker dealers registered with the Securities and Exchange Commission. Over the past 7 years, the PCAOB has performed extensive reviews of audit files, scrutinizing independence, documentation […]

New FINRA CAB Rules

April 20, 2017/in Regulatory Updates/by Jay Gettenberg

Capital Acquisition Brokers (“CABS”) were created as a new FINRA Membership option after a long-standing battle in the industry to lessen the restrictions on limited purpose Broker Dealers. You can apply to be a CAB member at the onset of your new member application (assuming you meet the criteria per the rule) or you can […]

FINRA Notice 16-09

March 5, 2016/in Regulatory Updates/by Jay Gettenberg

Summary Effective March, 2016 Shortening the settlement cycle from trade date plus three business days (T+3) to trade date plus two business days (T+2) for U.S. secondary market transactions in equities, corporate and municipal bonds, unit investment trusts, and financial instruments composed of these products is an industry- led initiative. To support this industry-led initiative, […]