US Broker-Dealer Registration | Pre-licensing Assessment | FINRA Registration and SEC Broker Registration | Post-licensing Risk and Compliance Management

We offer a comprehensive set of solutions to help you obtain and maintain a US broker-dealer registration, tailored to:

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• Regulated US broker-dealers' obligations covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our financial licensing solutions to help you navigate the complexities of the US broker-dealers' registration regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the US broker-dealers’ registration process, including but not limited to the following aspects:

• US Broker-dealer Registration Guidance: Advising on a wide range of aspects associated with US broker-dealer registration as it relates to your specific situation
• Pre-registration assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-registration support:
• Drafting the necessary policies and procedures to help you comply with the US broker-dealer registration conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the US broker-dealers' registration regime
• US Broker-Dealer Registration Application Support: Covering the entire registration process
• Post-registration Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

 

Service Coverage

We offer comprehensive support for a wide range of broker registration applications tailored to meet the specific needs of the following businesses:

• Finance Brokers
• Stock Brokers
• Mortgage Brokers
• Insurance Brokers
• Forex Brokers- please visit our Specialised Forex Broker Licensing Page for more.

You can find more information about our broker registration solutions below:

 

US Broker-Dealers’ Registration Preparation

Pre-licensing Compliance Assurance

Our US broker-dealer registration solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a US broker-dealer registration
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the US broker-dealers' registration process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your US broker-dealer registration, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• US Broker-Dealer Registration Plan: We help you establish a roadmap to effectively meet the US broker-dealer registration requirements

 

 

US Broker-Dealer Registration Guidance

Selecting the right compliance model is crucial not only for navigating the UK broker-dealers' registration process but also for maintaining ongoing compliance and avoiding potential breaches. Our US broker-dealers’ registration solution covers:

• Compliance Model Selection: To help you best comply with the US broker-dealers' registration regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the registration requirements for broking firms and other applicable regulated US broker-dealers’ obligations, keeping in mind your specific circumstances, available resources and business goals.

 

Entering The US Broker-Dealers’ Regulated Environment

We help businesses transition from an unregulated environment to operating under the US broker-dealers' registration regime, helping them meet their obligations as registered US broker-dealers.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the US broker-dealers' registration requirements.

Our focus areas for this service include:

• New businesses
• Existing broking businesses operating in unregulated markets
• Regulated US broker-dealers expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to introduce regulated broking services trading as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial registrations across various jurisdictions, we help businesses remain compliant with the regulated broker-dealers’ obligations globally.

 

US Broker-Dealer Registration and Wholesale Markets

Getting a US broker-dealer registration may not always be the best fit for all. For example, a retail market expansion may not always align with your goals or the products you offer.

Operating in the wholesale environment can sometimes be a more suitable option. We offer a wider range of risk and compliance management solutions to assist US broker-dealers that:

• Operate in the wholesale markets
• Operate under exemptions from the US broker-dealers' registration regime
• Offer services to sophisticated, eligible, and wholesale investors

 

We help them comply with the regulatory compliance obligations that are not caught by the US broker-dealers' registration regime but that still have to be addressed and handled, including:

• Advertisement Rules
• Fair Dealing Regulations
• Risk Management
• Outsourced Providers' Oversight
• Restrictions on offering services to retail investors without registration (an integral part of the US broker-dealers' registration regime)
• Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) laws and regulations
• Data Management Laws and Regulations

 

US Broker-Dealer Registration Application

We assist with your registration application through ongoing engagement in the US broker-dealers' registration process:

Document Compilation and Review: We compile and review all required supporting documents to support your US broker-dealer registration application.

Application Form Completion: We help you complete the forms so that all material information is accurate and complete.

Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.

Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the US broker-dealers' registration process.

Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving US Broker-Dealer Registration Issues

Having competent compliance advisors is crucial when registration issues arise. Therefore, our US broker-dealer registration solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for US Broker-dealer Registration Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with US broker-dealers' registration regime requirements.
• Specific Registration Conditions Compliance: We can help you manage additional conditions imposed on your US broker-dealer registration, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Registration Issues Handling: We address common registration issues encountered during the US broker-dealers' registration process, providing you with solutions to navigate and resolve these challenges efficiently.
• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Registration Support

We offer a full range of ongoing risk and compliance solutions for registered US broker-dealers. Our services include but are not limited to:

Ongoing Risk and Regulatory Compliance

• Regulated US Broker-dealers’ Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the US broker-dealers' registration and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for US Broker-dealers.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option
• Compliance Training Solutions: We offer training programs to different teams on complying with:
• Regulated US broker-dealers’ obligations for risk and regulatory compliance management. You can visit our Compliance Training page for more information.
• US Broker-dealers’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for US broker-dealers. For more information, visit our Specialised AML/CFT Solutions page for US Broker-dealers.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).

 

 

Risk and Compliance Obligations for Registered US Broker-Dealers

Registered US Broker-dealers are subject to various obligations set out in applicable laws and regulations. They are also expected to uphold standards for their conduct and internal operations, as outlined in regulatory guidance or accepted industry practices.

We can help you address these obligations and expectations through comprehensive support in the different areas. The list below is not exhaustive:

US Broker-Dealer Registration and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more.
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil regulated US broker-dealers’ obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks.
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the US broker-dealers' registration requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the US broker-dealers' registration regime.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Capital Adequacy Requirements: We can help you implement controls to comply with capital adequacy requirements, helping your businesses meet regulated US broker-dealers’ obligations for maintaining required financial resources (applies to stock US broker-dealers and finance US broker-dealers).
• Liquidity Management Requirements: We can assist you in developing controls to comply with liquidity management requirements (applies to stock US broker-dealers and finance US broker-dealers).
• Financial Auditing Standards: We can assist in establishing procedures to help you comply with the audit and assurance requirements under the US broker-dealers' registration regime.
• Regulated Counterparty Engagement: We can help you develop controls to comply with regulated US broker-dealers’ obligations that restrict engagement with non-regulated financial service providers (applies to stock US broker-dealers and finance US broker-dealers).
• Automated Trading Regulations: We can aid you in developing controls to meet automated trading regulations, including compliance with algorithmic trading rules and reporting requirements (applies to Stock US Broker-dealers).
• Digital Payment Token Services: We can assist in developing controls to comply with regulations for digital payment tokens, cryptocurrencies, and digital assets, including obligations under the US broker-dealers' registration regime and AML/CFT requirements for transaction monitoring and reporting (applies if US broker-dealers deal in crypto or digital assets (e.g., stock US broker-dealers offering tokenised securities, finance US broker-dealers offering digital asset products).

 

US Broker-Dealer Registration and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with regulated US broker-dealers' obligations for overseeing outsourced services, also covering related obligations under AML/CFT compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with regulated US broker-dealers’ obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with regulated US broker-dealers’ obligations for senior management and key staff conduct and competence.
• Maintaining Operational Resilience: We assist in developing continuity plans to meet regulated US broker-dealers’ obligations for operational resilience, helping critical business services withstand disruptions.
• Managing Technology Risks: We provide guidance on technology risk management obligations under the US broker-dealers' registration regime.

 

US Broker-Dealer Registration and Market Integrity/Transparency Requirements

• Standards for Market Conduct: We can help you implement controls for regulated US broker-dealers’ obligations to maintain fair and transparent market conduct, including preventing manipulation and insider trading (applies to stock US broker-dealers and finance US broker-dealers).
• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients.
• Standards for Conduct and Disclosure: We can help you comply with US broker-dealers' registration standards for conduct and disclosure.
• Product Suitability and Governance: We can establish tailored controls to help regulated US broker-dealers’ obligations comply with product suitability and governance obligations, including risk management and governance arrangements across the product life cycle.
• Protection of Client Assets: We can help you comply with the regulated US broker-dealers' obligations to protect and segregate client assets (applies to stock US broker-dealers and finance US broker-dealers).
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients.

 

US Broker-Dealer Registration and Resource Management Obligations

We can help you comply with the following requirements of the US broker-dealers' registration regime:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:
• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the registration regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, trading, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Key Personnel Assessment: We can help you assess the skills, qualifications, and experience of key personnel to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, and compliance regulations.
• Competence and Accreditations of Advisors and Representatives: We can advise you on certifications and continuing professional development (CPD) requirements for compliance professionals and senior management (applies to stock US broker-dealers and mortgage US broker-dealers).
• Representative Vetting: We can help establish a framework for assessing the competence and suitability of advisors and representatives before appointment (applies to stock US broker-dealers and mortgage US broker-dealers).
• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on registration obligations, market integrity, and client interaction standards.
• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.

 

US Broker-Dealer Registration and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  • US Broker-dealers' registration requirements
  • US Broker-dealers’ AML/CFT obligations (SMRs, STRs, SARs, cross-border transaction reports, cash transaction reports, and other reporting obligations)
  • Regulated US broker-dealers’ obligations under financial market conduct regulations
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the US broker-dealers' registration regime, applicable operational standards, and more.

 

Related Services

We assist in obtaining US broker-dealer registration equivalents in the following jurisdictions:

• Australia: For more information on the Australian equivalent of a US broker-dealer registration, the Brokers’ AFSL, you can visit our AFSL page for Australian Brokers.
• Singapore: For more information on the Singaporean equivalent of a US broker-dealer registration, the Singaporean Forex Broker’s licence, you can visit our CMSL page for Singaporean Brokers.
• New Zealand: For more information on the New Zealand equivalent of a US broker-dealer registration, the brokers’ FSP registration, you can visit our FSP Registration page for New Zealand Brokers.
• United Kingdom: For more information on the UK equivalent of a US broker-dealer registration, the FCA broker authorisation, you can visit our FCA Authorisation page for the UK brokers.
• Other Jurisdictions: We also offer licensing solutions for brokers in prominent financial centres and offshore tax havens, including but not limited to:

• Cyprus
• Belize
• Mauritius
• Seychelles
• Other offshore and low-tax jurisdictions