By Anthony DiLorenzo, MS, Staff II Accountant – WithumSmith+Brown, PC Passive investing led by ETFs (exchange traded funds) have become the go-to investment vehicle for many average investors over the last 10 years. Investopedia defines an ETF as: A marketable security that tracks an index, a commodity, bonds, or a […]
WithumSmith+Brown, PC is a full service, regional certified public accounting and consulting firm with over 900 employees.
By Phil Antico, CPA, Senior Manager – WithumSmith+Brown, PC On November 8, 2016 the Securities and Exchange Commission (“SEC”) Division of Trading and Markets issued a no-action letter regarding the treatment of operating leases under the Securities and Exchange Act Rule 15c3-1. This letter is in response to a letter […]
By Anthony Tuths, JD, LLM – Partner – WithumSmith+Brown, PC The IRS plans to issue the final version of proposed rules for dividend equivalents together with a notice providing additional guidance and transition relief. It is expected that 871(m) will take effect on January 1, 2017, only with respect to […]
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 […]
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 […]