Broker-Dealers

One of the main areas of our business over the years has been the establishment of broker-dealers in the United States. We have established dozens of firms and have helped scores of others to stay in business by providing ongoing legal compliance and operational services and support.


Again, our focus is on the small firm or start-up. We:

  • Prepare and file FINRA member applications

  • Organize entities

  • Prepare compliance programs and policies

  • Assist in finding the suitable clearing firm

  • Assist with accounting and operational support

  • Prepare periodic regulatory filings

  • Assist with SEC and FINRA audits

  • Assist with the licensing of personnel

  • Assist with product planning and growth

  • Prepare mandated continuing education programs

  • Conduct annual reviews of the firm's business

  • Conduct the mandated annual meeting

  • Provide ethics and compliance training

  • Establish broker-dealer affiliates as adjuncts to hedge fund management and sales activites

  • Provide continuing education materials to help meet Firm Element requirements

  • Perform branch office inspections anywhere in the country

  • Serve as SEC-mandated consultant to address critical deficiencies

  • General consulting

Registered Investment AdvisErs

The Securities and Exchange Commission regulates many investment advisers. Investment advisers must have:

  • A code of ethics that addresses conflicts of interest and other important matters;
     

  • Detailed, written compliance policies and procedures; and
     

  • A knowledgeable, experienced Chief Compliance Officer with substantive authority within the firm 

 

Hedge Funds

DMA can help you with hedge fund start-up and compliance.

Hedge funds are unregistered (and therefore "private") investment funds. Depending upon the tax issues for investors, regulatory considerations or corporate preferences (which can often be esoteric in nature), hedge funds may be established as

 

  • domestic limited partnerships

  • LLCs

  • business trusts

  • offshore partnerships

  • segregated portfolio companies,

  • corporations

  • trusts

 

Documentation includes the offering memorandum, the formation documents, such as articles of incorporation, trust deed, or partnership agreement; custody or prime brokerage agreement; administrative agreement; pricing agent agreement as well as other documentation.

Often, tax opinions are required and swap documentation will need to be in place before active portfolio management may begin. Hedge funds may be tailored for sale to individual high net-worth investors, institutional investors, or both. Depending upon the preference, differing exemptions from registration under the securities laws will apply. In addition, hedge funds may be established as stand-alone entities, mixed portfolio companies, or structured as master-feeder funds, and may have many or few portfolio restrictions. They may have one or many classes of units or shares, depending upon sale objectives, and they may be required to be sold through a broker-dealer or engage in a "self-offering," depending upon various considerations under the securities laws. (Often, the "self-offering" exemption is not available and the fund group will need to partner with an unaffiliated broker-dealer or establish one of its own.) For further information, please contact us using the information on the home page.

New York Address: 
Telephone:
Email Inquiries:

The DMA Consulting Group
150 Motor Parkway (4th Floor)
Hauppauge, NY 11788

Tel. (516) 680-6630

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