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.

FINRA Notice 15-51

December 9, 2015/in Regulatory Updates/by Jay Gettenberg

Summary December 2015 Pursuant to rule amendments that will be effective February 1, 2016, FINRA is introducing a new category of trade submissions—clearing-only, non- regulatory reports—that firms can use to submit to clearing those OTC transactions in equity securities that have been previously reported through a FINRA facility.1 Clearing-only, non-regulatory reports cannot be used for […]

FINRA Notice 15-50

December 8, 2015/in Regulatory Updates/by Jay Gettenberg

Summary Effective Date: June 6, 2016 The SEC approved amendments to FINRA Rule 2210 (Communications with the Public) to require each of a member firm’s websites to include a readily apparent reference and hyperlink to BrokerCheck on (1) the initial Web page that the firm intends to be viewed by retail investors, and (2) any […]

FINRA Notice 15-49

December 1, 2015/in Regulatory Updates/by Jay Gettenberg

Summary Effective Date: December 12, 2015 The SEC approved a change to FINRA Rule 8312 (FINRA BrokerCheck Disclosure) to reduce the waiting period from 15 days to three business days for the release of certain information reported on the Form U5 (Uniform Termination Notice for Securities Industry Registration) through BrokerCheck. The effective date is December […]

FINRA Notice 15-48

November 26, 2015/in Regulatory Updates/by Jay Gettenberg

Summary Effective Date: April 2, 2016 Pursuant to rule amendments that will become effective on April 2, 2016, FINRA will expand its alternative trading system (ATS) transparency initiative to publish the remaining equity volume executed over-the-counter (OTC) by FINRA member firms, including the trading activity of non-ATS electronic trading systems and internalized trades. Beginning on […]