SEC Announces 2017 Compliance Outreach Program

Intended to help Chief Compliance Officers and other senior personnel enhance and educate programs at investment companies and advisory firms, the SEC has announced a four city compliance outreach program spread across the continental United States. The SEC’s Office of Compliance Inspections and Examinations, Division of Investment Management, and the Asset Management Unit of the … Read More

NFA to Hold Member Town Hall Webinar – April 3, 2017

NFA will conduct its 3rd annual Town Hall webinar on Monday, April 3, 2017 at 2:00 CDT/3:00 pm EDT. The webinar will be 60 minutes long and will allow opportunities for members to ask questions of NFA’s leadership. Ronald Filler, the NFA’s Public Director and Thomas Sexton, the NFA President and CEO will be among … Read More

Did you know…

Michael Coglianese CPA, P.C. also provides regulatory services for Registered Investment Advisors. Surprise Custody Examinations are required per SEC rule 206(4)-2 of the Investment Advisers Act of 1940 for RIAs who have the ability, including general power of attorney, to withdraw or have access to client funds or securities, assets indirectly or directly held by … Read More

CFTC’s Giancarlo Gives Industry What It’s Looking for, It Hopes

When CFTC Acting Chairman J. Christopher Giancarlo spoke before the FIA conference in mid-March, he received a standing ovation largely for his message: cut out burdensome regulations that have been adopted post-2008 financial crisis and the onset of Dodd-Frank. In his speech, Giancarlo promised to re-organize the agency that can better monitor the industry while … Read More

DOL Fiduciary Rule Hits Bumpy Road

The Department of Labor Fiduciary rule was to go into effect in early April, but the Trump Administration wants to put a hold on it as well as other regulations. Here’s an update from ThinkAdvisor.com as well as a viewpoint from Vanguard founder John Bogle from the New York Times, click here.

NFA Board Brings in Old (new) Blood

Who are your new NFA reps? Although many people expected behemoth Citadel to take over representing CTAs and CPOs on the NFA board, it didn’t happen. Instead trading veteran Martin Lueck, the L in the original AHL Trading program, long ago set up his own shop, Aspect Capital LTD. He joins Ernest Jaffarian of Efficient … Read More

CFTC Provides Temporary No-Action Relief for Aggregation Notice Filings for Position Limits

Those traders awaiting positions limit relief got a reprieve. On Feb 6, the Commodity Futures Trading Commission issued a letter that provides time-limited no-action relief from the requirement that traders who need certain aggregation exemptions from federal position limit levels must file notice with the CFTC. The extension of relief is until Aug. 14 (from … Read More

A History of Taxes

In the years prior to the passage of the 16th amendment to the Constitution, the federal government imposed an income tax on two occasions.  The first income tax was used to fund the expenses of the Civil War and lapsed in 1872.  The second income tax was created in 1894.  However, due to the specific … Read More

Tax Tips and Updates

Looking to get tax preparation completed early?  It is possible to get your 1099s earlier than you think.  Rather than waiting for them to come via mail on February 15th, your Broker/FCM may be able to provide it to you electronically if you request it.  The sooner your tax preparer has the 1099s, the sooner … Read More

NIBA – What is it? Who is it? by Melinda Schramm, Founder & Chairman

NIBA is the membership association for derivatives professionals. Founded in 1991, membership is primarily made up of Introducing Brokers and Commodity Trading Advisors. Members also include 11 Futures Commission Merchants and 23 service providers. The mission of NIBA is education — education for registered futures, options, swaps and forex professionals which keeps them in compliance, … Read More