McCormick O'brien, LLP
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Compliance

Based on more than 20 years of experience representing broker-dealers, investment advisers, and other financial service providers, McCormick & O’Brien LLP combines a comprehensive understanding of the regulatory landscape with an appreciation of our clients’ businesses.

We counsel broker-dealers, registered representatives, investment advisers, hedge funds and other securities professionals regarding registration, compliance, reporting, disclosure and trading issues.

We can assist broker-dealers in the membership and continuance process with the FINRA; counsel broker-dealers with respect to regulatory examinations and audits; draft broker-dealer compliance and supervisory procedures; counsel investment advisers with respect to fees and disclosure; counsel public companies concerning prospectus and reporting disclosure; and counsel technology vendors with respect to applicable securities laws.

We assist clients in keeping abreast of trends and developments by frequently interacting with FINRA’s senior attorneys. We regularly counsel clients on a variety of issues including supervision, compensation, sales and trading practices, website content, securities lending and credit activities, best execution, advertising, communications with the public, disclosure and development of new securities products and services, financial operations matters, anti-money laundering privacy, mark-up and mark-down issues, confirmations, net capital requirements, revenue sharing, Forms BD and BDW, networking and other referral arrangements, Forms U4 and U5, point-of-sale disclosure, books and records and reporting obligations. We also advise clients on suitability issues involving fee-based accounts, electronic communications, share classes and sub-accounts.

We have devised and maintained continuously updated model templates for developing and implementing supervisory control policies and procedures, and for conducting gap analyses required by FINRA rules and regulations. In addition to written supervisory procedures, we have developed continuing education programs as well as the content for annual compliance meetings.

We have requested exemptive and “no-action” relief on behalf of clients regarding novel issues and the creation and distribution of proposed products and services, including wrap fee programs and separately managed accounts. We also provide advice concerning the effects of new regulations and interpretations of existing regulations on clients’ businesses, processes and compliance procedures.

With regard to Investment Advisor Compliance, McCormick & O’Brien provides Investment Advisers with customized comprehensive compliance programs. The compliance program can be tailored to include:

  • Develop Narrative versions of Form ADV
  • Calendar, Reminders, Checklists & Forms.
  • Code of Ethics & Supervisory Procedures.
  • Form ADV.
  • Solicitor Disclosures and Agreements.
  • Wrap Program.
  • IARD Service Bureau.
  • IAR Registration Analysis.
  • Advertising Review.
  • Fee Audit.
  • Review of quarterly personal securities transactions and annual holding reports.
  • Qualitative analysis of best execution.
  • Compliance Training.
  • Compliance Committee Meetings.
  • Annual Review/Compliance Assessment.
  • Mock SEC examination of your investment advisor.
  • Preparing and submit Form13F and Schedule 13G filings via EDGAR

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