The time consuming process of preparing monthly financial statements, net capital computations, and filing monthly and/or quarterly FOCUS reports can significantly reduce time available for revenue producing or compliance activities. The FinOp must remain current on rule changes or new interpretations that may affect a firm’s net capital position and ultimately its ability to conduct certain types of securities business.
SRP will assist with the following:
- General ledger;
- Review of financial statements, prepare net capital computations and file FOCUS reports;
- Participate in the annual financial audit and FINRA/SEC examination;
- Advise on the changes in the Financial Responsibility Rules; and
- Advise clients as to the impact on net capital of proposed transactions.