Overview

Our Investment Management lawyers have formed and represented hundreds of broker-dealers (BDs) over the course of many years.

Our lawyers have assisted start-up broker-dealers through the numerous and complicated aspects of registration with the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC) and various state securities or "Blue Sky" authorities.

A startup broker-dealer's new membership application (NMA) with FINRA is complex and difficult to navigate. However our lawyers have the expertise to guide our clients through the NMA process. In addition to the NMA, we assist many operating broker-dealers in their continuing membership application (CMA) to amend their FINRA membership agreement to reflect any changes in business, ownership or management. Our lawyers are also prepared to assist with an operating broker-dealers on going compliance matters, audit inquiries and enforcement related matters.

Our investment management lawyers are at the forefront of the regulatory changes, as evidenced by Thompson Hine's participation with FINRA in the creation of the Firm Gateway (aka the Web CRD).

Our services are comprehensive. For example, when representing a new broker-dealer in the NMA process, at the outset, we assist in the formation of a new entity and the preparation of all relevant organizational documents. Once the company is formed, we will assist in the preparation and filing of the following documents required by FINRA:

  • Form BD
  • Entitlement Documents
  • U4 and U5
  • Business Plan
  • Written Supervisory Procedures
  • Surety Bond Acquisition
  • Anti-Money Laundering Procedures
  • Business Continuity Plan
  • Firm Element/Continuing Education Manual
  • Form NMA

As part of our comprehensive service, we will also serve as your primary liaison with FINRA and assist and attend your pre-membership interview (PMI).