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.

Focused on Safety, ACI Pushes Office Return to September

June 29, 2020

Like many of you, ACI has been weighing when to return to the office as New York City approaches Phase 3.

Our original plan was to implement a partial return on July 6th. After discussing amongst our staff and weighing the consequences, we have decided to hold off until at least September.

As Economy Reopens, ACI Returns to Office with Safety at its Forefront

June 22, 2020

Like many of our clients and colleagues, ACI is looking forward to reopening our office. We are taking into consideration how to ensure our staff remains safe and healthy, while also providing the expected highest level of service.

SBA Provides More Guidance on How to Obtain Paycheck Protection Program Loan Forgiveness

May 29, 2020

The government continues to address the concerns of small businesses who have borrowed money through the SBA-backed Paycheck Protection Program (PPP).

New guidance released over the holiday weekend offered more clarity about the conditions for loan forgiveness, while the U.S. House of Representatives yesterday passed a bill to provide more flexibility for borrowers.

New Paycheck Protection Program Guidance Eases Concerns About Repayments

May 15, 2020

This week the SBA eased PPP loan concerns through much-needed guidance. The SBA stated it would trust borrowers of less than $2 million if they stated that they needed the funding as a result of the “current economic uncertainty.”

All ACI clients who applied for a PPP loan were below the $2 million threshold, so this should mitigate the immediate concern about the potential for an SBA audit on the horizon.

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, […]