By Joseph Fede, CPA, GMA, Supervisor – WithumSmith+Brown, PC Over the past several years, the Financial Industry Regulatory Authority (“FINRA”), the self-regulatory organization responsible for regulating every brokerage firm doing business in the US, brought between 1,300 and 1,600 disciplinary actions each year. In 2015, it ordered $95 million in […]
WithumSmith+Brown, PC is a full service, regional certified public accounting and consulting firm with over 700 employees.
By Joseph Cassano, CPA – Senior Manager – WithumSmith+Brown, PC Cybersecurity has become the latest buzz word and focus of the United States Securities and Exchange Commissions (“SEC”). The SEC realizes that registered investment advisers (“RIA’s”) are using technology more and more in everyday business, and the need to protect […]
By Phyllis Tsai, CPA – Manager – WithumSmith+Brown, PC A recent speech made by Andrew Ceresney, Director of Enforcement, pointed out three categories which the recent SEC enforcement actions have fallen into: Advisers that receive undisclosed fees and expenses Advisers that impermissibly shift and misallocate expenses Advisers that fail to […]
By Malia Mon, CPA – Staff Accountant – WithumSmith+Brown, PC A broker-dealer is a company that engages in the business of trading securities for its own account or on behalf of its customers. Seems simple doesn’t it? A broker-dealer appears to be a straightforward concept; however, there are many different […]
By Chaim Kofinas, CPA/PFS – Senior Manager – WithumSmith+Brown New York has relaxed the securities identification rule for New York corporate partners. This rule effectively applies to all investment partnerships that have, or may have, a corporate partner taxable in New York. New York State, the financial capital of the […]
By Chaim Kofinas, CPA/PFS – Senior Manager – WithumSmith+Brown Every state and city across the U.S. is seeking more tax revenue, that’s not new. What is new is the creativity that governments are employing to bring tax dollars within their net. Most of these new developments surround a tax concept […]
Ken Degraw, CPA, CFP, CFE – Partner – WithumSmith+Brown, CPAs Just when you thought Democrats and Republicans couldn’t agree to do much of anything comes a 347-8 vote in the House of Representatives. Dodd-Frank called for the SEC to regularly review the accredited investor rule. While the SEC staff has […]