The SEC Form X-17A-5 is a filing that must be submitted by investment companies to the Securities and Exchange Commission (SEC). The form is used to provide information about the investment company's officers, directors, and principal shareholders. The form must be filed annually. What does a broker-dealer do? A broker-dealer is a financial professional that buys and sells securities on behalf of their clients. They are regulated by the Financial Industry Regulatory Authority (FINRA).
Broker-dealers must register with the SEC and must adhere to certain rules and regulations, including the requirement to have a minimum net capital of $250,000. They must also maintain records of all transactions and must provide their clients with certain information, such as a prospectus, before entering into any transaction.
In addition to buying and selling securities, broker-dealers may also provide other services, such as investment advice, underwriting, and market making.
How is net capital calculated? Net capital is calculated by subtracting a public company's total liabilities from its total assets. This figure is then divided by the company's total shares outstanding to arrive at its net capital per share. The SEC requires companies to maintain a certain level of net capital in order to protect investors from losses in the event that the company goes bankrupt.
What does finra stand for?
The Financial Industry Regulatory Authority (FINRA) is a non-governmental organization that regulates the securities industry in the United States. FINRA is not a government agency, but rather a private-sector, self-regulatory organization.
FINRA was created in 2007 through the consolidation of the National Association of Securities Dealers (NASD) and the New York Stock Exchange's (NYSE) member regulation functions. Prior to the consolidation, the NASD regulated broker-dealers who were members of the NASD, and the NYSE regulated its member firms.
The mission of FINRA is to protect investors by ensuring that the securities industry operates fairly and honestly. FINRA does this by regulating the firms that sell securities, and by providing education and tools to help investors make informed investment decisions.
FINRA is overseen by the Securities and Exchange Commission (SEC), which has the authority to approve FINRA's rules and regulations.
What is ICOC compliance?
The SEC has a set of rules and regulations known as the Investment Company Act of 1940 (the " 1940 Act") which governs the organization and operation of investment companies. One of the key provisions of the 1940 Act is the requirement that investment companies register with the SEC.
In order to be in compliance with the 1940 Act, an investment company must file a registration statement with the SEC which includes, among other things, a description of the company's investment strategies, its costs and fees, and its financial condition.
The SEC also requires that investment companies make available to investors a disclosure document known as a "prospectus" which contains information about the investment company's investment strategies, costs and fees, and financial condition.
In addition, the SEC requires that investment companies file periodic reports with the SEC which provide updated information about the company's investment strategies, costs and fees, and financial condition.
Who has to file a focus report?
The SEC (Securities and Exchange Commission) requires that public companies file a focus report as part of their periodic filings. Focus reports provide information about the company's business, including its financial condition, results of operations, and risk factors.