Revolutionize How Your FINOP Reviews Accounting Records
Regulatory Compliance has revolutionized how a broker-dealer and its Financial and Operations Principal ("FINOP") perform their duties under FINRA Rule 1022. Until now, it has been challenging for a FINOP to monitor the Firm's net capital and client accounting activity on a daily real-time basis. Regulatory Compliance, a firm specializing in outsourced FINOP services, recognized this need and developed its state of the art Fintrax™ software. With the assistance of this software, the FINOP and broker-dealer can demonstrate to regulators that the firm's ability to meet their requirements are being monitored by the FINOP on a daily basis.
How does Fintrax™ work?
Regulatory Compliance's Fintrax™ software is a one-time downloadable and licensed product that can be installed on the firm's PC or Server where the QuickBooks program resides. Fintrax™ runs in the background and "wakes up" at a set periodic time to extract, transport and load a copy of the firm's current financial data into the Fintrax™ database, which is stored on Regulatory Compliance secure servers. As information flows into the database, Fintrax™ automatically calculates certain values, such as required net capital. Fintrax™ is easy, non-intrusive and works with all QuickBooks versions. While using Fintrax™, Regulatory Compliance and your FINOP keep ahead of the curve on the net capital, providing the early warning time needed to resolve issues before violations occur.
Highlights of Fintrax™
- Provides peace of mind to the broker-dealer and the regulator that the FINOP is performing its required responsibilities
- Affords the ability for the FINOP to have immediate access to the firm's financial records with instantaneous net capital calculations
- Installs in minutes and continues to allow the broker-dealer to operate QuickBooks and accounting functions, conduct business as usual, and enter transactions and obligations as they occur
- Gives the FINOP the capability to virtually eliminate financial reporting problems
- Upgrades the existing overview of client financials by providing continuous eyes on capability
- Drill down functionality provides FINOP with detailed transaction review
- Does not interrupt any other software, including the QuickBooks program, or the computer it is being installed on
Our licensed Series 27 and Series 28 professionals have many years of financial experience and knowledge in working with FINRA and the SEC by providing financial reporting in accordance with regulatory rules and requirements and financial analysis to meet specific FINRA requests. Learn More.
Regulatory Compliance clients are also taking increased advantage of our bookkeeping and
accounting services. Working with Regulatory Compliance allows our clients the direct
cost-advantage benefits of Analytix Solutions. Regulatory Compliance and Analytix Solutions
have partnered to offer our clients a comprehensive accounting package. As a leading
professional services firm providing virtual accounting and bookkeeping services to small to
mid-size companies, Analytics Solutions can help cost-effectively manage a firm's bookkeeping.
To learn more about any of our compliance services, contact us or call 1-888-Reg-Comp (1-888-734-2667).