RIA and Broker-Dealer Registration Services

Challenges of RIA and Broker-dealer Registration 

Navigating the complex landscape of SEC or FINRA registration can be daunting. Our expertise ensures your firm meets all regulatory requirements, saving you time and effort. Successfully registering as an RIA or broker-dealer requires meticulous attention to detail and compliance with numerous regulations. Some of the specific challenges include:

• Complex Regulatory Requirements: Understanding and adhering to the regulations set forth by the regulatory authorities can be overwhelming.

• Extensive Documentation: Drafting documents (the Form ADV or your firm’s Business Plan), ensuring the right governance and operating structure is in place and completing the FINRA New Member Application (NMA) can be time-consuming.

• Business Model Complexity: Having a business model that involves multiple regulatory bodies, governance and operations infrastructures requires more resources and specialized knowledge.

• Mistakes and Oversights: Mistakes or oversights during the registration process can lead to delays or even application rejection during the approval process.

RIA Registration 

Securities and Exchange Commission (SEC) registration for Registered Investment Advisors (RIAs) involves developing a comprehensive compliance program and preparing detailed documentation. We’ll ensure all requirements are met efficiently and effectively. We also offer Outsourced Chief Compliance Officer (CCO) services, providing firms with the expertise needed.

Key elements of the RIA registration process include:

• Application and Documentation: Filing the application, drafting Form ADV Parts 1, 2, and 3, and developing a Code of Ethics.

• Compliance and Policies: Creating compliance policies and procedures, developing a compliance program with a calendar, and registering individuals.

• Additional Support Services: Business continuity planning, information security policy development, and social media archiving.

Broker-Dealer Registration 

Registering as a broker-dealer involves a detailed application process reviewed by FINRA’s Membership Application Program (MAP) Group. Key aspects of the application include compliance with industry regulations, detailed business and operational information, and several supplemental documents. Oyster Consulting simplifies this process by helping firms prepare and submit accurate applications.

Key elements of the broker-dealer registration process include:

• Business and Operational Information: Includes ownership structure, business arrangements, communication and operational systems, funding, net capital, office locations, and promotional plans.

• Compliance and Supervision: Covers compliance with industry rules and regulations, supervision mechanisms, books and records management, and privacy policies.
• Supplemental Documents: Encompasses business plans, written supervisory procedures, business continuity plans, anti-money laundering (AML) programs, record retention programs, certifications, pro forma financials, registrations, and continuing education programs.

The Oyster Difference 

At Oyster Consulting, we go beyond traditional registration services for wealth management firms. Our registration team includes former FINRA Member Application Program specialists, regulators, and industry professionals who bring a wealth of knowledge to every engagement. We stay current with regulatory changes and industry trends, ensuring your firm is always ahead of the curve. Our professionals stand out due to our extensive industry experience and commitment to client success.

We offer tailored support to capital markets firms. Our consultants provide recommendations and hands-on assistance to execute your registration plan effectively. Leverage our expertise to navigate complex registration processes smoothly and achieve your business goals. Contact Oyster Consulting today to learn more about our comprehensive registration services.