FINOP Services

Securities Compliance Management will assign one of our team members to assume the duties traditionally performed by the Financial and Operations Principal (“FinOp”), from oversight of the financial books and records of the firm to filing the FOCUS Report. Securities Compliance Management has a staff of experienced Financial and Operations Principals able to act as your firm’s FinOp on an interim or permanent basis. Our staff has the industry experience with firms that conduct virtually every kind of retail securities business. Some of the common FinOp responsibilities include:

  • Final approval and responsibilities for the accuracy of financial reports
  • Supervision of individuals who assist in the preparation of such reports
  • Supervision of and responsibility for individuals who are involved in the actual maintenance of the member’s books and records from which such reports are derived
  • Supervision and/or performance of the Firm’s responsibilities under all financial responsibility rules promulgated pursuant to the provisions of the Act;
    Overall supervision of and responsibility for the individuals who are involved in the administration and maintenance of the Firm’s back office operations
  • Responsibility for monitoring all reporting thresholds in accordance with SEC Rule 17a-11 to ensure that notification is not required in accordance with the rule.
  • Responsible for computing the firm’s monthly computation of net capital and submission of the FOCUS Report. This will include all items related to such computation, including (but not limited to) haircut calculations and/or undue concentration.
    Interface with regulators as necessary