Broker Dealer Services

FINRA Membership Applications.

 

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Current News:

January 1, 2017

FINRA District 6 Committee: Melinda ("Mimi") LeGaye has been appointed as a small firm representative on FINRA's District 6 Committee.

 

 

Recent Events:

 

 

Since 1984, MGL has been providing comprehensive registration services to organizations seeking to form a new broker/dealer, acquire an existing broker/dealer and or expand the business activities of an existing broker/dealer. MGL’s team of experienced professionals can help your organization understand the FINRA Membership Rules and navigate the FINRA New Membership and Continuing Membership Application Processes.

MGL has extensive experience forming broker/dealers, including introducing broker/dealers established to conduct a retail brokerage business, institutional brokerage operations with research capabilities, investment banking broker/dealer’s providing mergers & acquisition advisory services, mutual fund distributors, or limited purpose broker/dealers established to distribute interests in Reg D Private Placements and or interests in publicly registered non-traded REITs. MGL can consult with you regarding organizational and structural issues, as well as capitalization and supervisory systems issues. MGL can also assist your organization securing ancillary registrations which may be required to address specific product needs such as MSRB membership for firms desiring to offer municipal securities or provide municipal advisor services, as well as NFA and CFTC registrations for those firms wishing to offer commodities to its customers and or act as a commodities trading advisor, a commodities pool operator or a futures commission merchant.

At MGL we provide turn-key New Member Application (NMA) packages for firms wishing to establish a new broker/dealer affiliate. Our turn-key NMA packages include, at a minimum the following services:

  • Organization and start-up counseling for the broker/dealer firm, extensive phone interviews with the firm's principals regarding organizational and capitalization issues.
  • Preparation and filing of application documents required by and with the SEC and the FINRA to establish your new broker/dealer.

 

  • Preparation and filing of application documents with your firm’s home state, or state of domicile.
  • Registration of your firm’s designated principals, corporate officers and owners as required, including required disclosures on Schedule A and Schedule B of Form BD.
  • Written Supervisory Procedures manual preparation and submission.

 

  • FINRA Firm Element Needs Analysis and Training Plan will be prepared for your firm and submitted as part of the firm’s application for membership.
  • Preparation of and consultation with client regarding firm’s proposed Business Plan for submission to the FINRA in accordance with FINRA Membership and Registration Rules 1013 and 1014.

 

  • Coordination of other aspects of the registration process: fidelity bonding, clearing firm selection, fingerprinting of agents, MSRB registration for municipal securities, Options Exercise Assignment Procedures for options business activities, DTC Registration, SIC agreement, SIPC membership, etc.
  • Accurate and timely tracking and reporting of firm and agent applications through the various agency processes. Coordination and scheduling of pre-licensing training and examinations.

 

  • Complete set of file copies containing all documents prepared on behalf of your firm and submitted as part of its application processes.

For more information regarding our registration services or to request a formal proposal, please contact us today at 281-367-0380 or at info@mglconsulting.com.