What is sec x 17A 5?
SEC Form X-17A-5 is a financial reporting form that all broker-dealers who are registered with the U.S. Securities and Exchange Commission (SEC) must complete. This form consists of three parts and contains an annual audit that must be performed by a certified public accountant (CPA).
What is SEC Form 17A?
This SEC Form 17-A shall be used for annual reports filed pursuant to Section 17 of the Securities Regulation Code (SRC) and paragraph (1)(A) of SRC Rule 17.1 thereunder. Annual reports shall be filed within one hundred five (105) calendar days after the end of the fiscal year covered by the report.
What is a Focus report in broker dealer?
A FINRA Financial and Operational Combined Uniform Single (FOCUS) report includes a balance sheet, income statement, net capital calculation, and equity reconciliation. The intent is to demonstrate to regulators the financial position of the firm and its ability to maintain sufficient net capital.
What is focus IIA?
This FOCUS Report (Form X-17A-5) constitutes the basic financial and operational report required of those brokers or dealers subject to any minimum net capital requirement set forth in Rule 15c3-1.
Who needs to file with SEC?
Reportorial Requirements
| Document Type | Description |
|---|---|
| SEC FORM 17-A Annual Report (AR) | Annual Report |
| SEC FORM 17-Q Quarterly Report (QR) | It contains Interim Financial Statements and Interim Management’s Discussion |
| SEC FORM 17-L | Notice of Inability to File AR and QR |
| SEC FORM 17-EX* | Notice of suspension of filing of reports |
What is focus reporting?
FOCUS report stands for Financial and Operational Combined Uniform Single report. These reports are similar to financial statements in that they provide net capital information and related operational information.
What are allowable assets?
Allowable Assets – Firm’s assets that are readily available or convertible into cash.
What time is finra report released?
FINRA requires firms to report short interest positions in all customer and proprietary accounts in all equity securities twice a month. All short interest positions must be reported by 6 p.m. Eastern Time on the second business day after the reporting settlement date designated by FINRA.