Broker Dealer Compliance

What does a Broker-Dealer Compliance Attorney do?

Montague Law’s Broker-Dealer Regulation and Compliance Team stands at the forefront of offering seasoned guidance on the legal, regulatory, and compliance dimensions of broker-dealer activities. This includes meticulous advice related to the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations.

With a wealth of knowledge under our belt, we are adept at providing assistance to clearing, self-clearing, and introducing firms, addressing both domestic and international contractual and regulatory challenges. Our team crafts a range of industry agreements and partners with clients to optimally structure their global operations. This spans U.S. and foreign affiliates, third parties, and other institutions such as banks, investment advisers, securities issuers, and tech vendors. From customer documentation to tackling issues around know your customer (KYC) protocols, anti-money laundering (AML), and conflict of interests, we cover the entire spectrum.

Comprehensive Service Offering

Our expertise spans a vast array of SEC, FINRA, state, and global regulatory and compliance subjects, which includes:

• Advertising and marketing strategies
• Alternative trading platforms
• Regulation of annuities distribution
• Anti-money laundering measures
• Clarifying broker-dealer status nuances
• Structuring clearing collaborations
• Initiatives across borders and on a global scale
• Cryptocurrency guidance
• Customer documentations and necessary disclosures
• Adherence to customer protection regulations
• Cybersecurity protocols
• Drafting distribution and dealer contracts
• Creation of independent contractor and employment contracts
• Formulating outsourcing contracts
• Privacy law compliance
• Public and proprietary offerings
• Ensuring record-keeping standards
• Structuring referral partnerships
• Regulation NMS & Regulation SHO understanding
• Registration, continued membership applications, and state licensing
• Handling regulatory examinations and inquiries
• Product and service development in the securities domain
• Social media guidelines
• Framing supervisory policies and procedures
• Trade practices, reporting, and compliance with Order Audit Trail System (OATS) requirements
• Navigating Form U4, U5, and Form BD matters

Furthermore, we are proficient in aiding firms as they navigate examinations and inquiries from the SEC, FINRA, and other domestic and international regulatory agencies. This includes routine checks, cycle and cause exams, Wells notices, and regulatory sweeps. Our holistic approach encompasses supporting broker-dealers, investment advisers, and related entities in areas such as mergers and acquisitions, securing regulatory approvals, labor counseling, disputes, and tax concerns, with specific expertise in the Foreign Account Tax Compliance Act (FATCA).

Moreover, our team boasts a proven track record of advising and defending broker-dealers and brokerage entities against client grievances in FINRA arbitrations and litigation. We are well-equipped to steer clients through various FINRA conflicts, such as broker-dealer disagreements, investment fraud cases, and Form U5 termination issues. Employing a rigorous analysis, we devise robust defenses or, when viable, negotiate amicable settlements in our clients’ favor.