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Financial News



Dec 31, 2015 - Changes for the End of the Year
Existing Account Statements - The account statement as of this deadline must now identify:

  • Market value of all holdings and the transaction details during the reporting period (quarterly, if a transaction was effected, or monthly upon client’s request)
  • Any Investor protection funds (See FAQ Document for the OSC definition of these funds Link)
  • Identification of securities subject to redemption charges such as DSC

Additional Statements:

  • A detailed description of the party that holds/controls each security for client-name accounts (security held by a third party ie. off-book accounts)
  • This information is reported quarterly (or monthly upon client’s request) and will either be part of a consolidated statement (part of your account statement) or will come as a separate report within 10 days of your account statement.

Position Cost Information:

  • Identify the original cost –OR- the book cost of the security –AND- the total cost of all security positions since the account opening.
  • The position cost will be calculated using either the book cost method or the original cost method.
  • This information will allow an investor to use the cost of the security position as a comparator for market value.
  • This information is reported quarterly and will either be part of a consolidated statement (part of your account statement &/or Additional Statement) or will come as a separate report within 10 days of your account statement.

Jul 15, 2016 - Final Changes to the CRM2 Amendment Cycle
Charges and Other Compensation – New Annual Report – what is included:

  • This is a summary of all charges the client incurs and all other compensation received by the EMD (registered firm) that relate to the client’s account and includes:
    • Operating Charges
    • Transaction Charges
    • Trailing Commissions
    • Debt Security Transactions
    • This report will be received by the client annually – and is flexible in the delivery:
      • Delivered along with the Investment Performance Report
      • It can also be combine with account statement or additional statement –OR;
      • Accompany the account statement or additional statement as a separate report – OR;
  • Be delivered separately within 10 days

Investment Performance Report – New Annual Report – what is included:

  • Trade Confirmations – Debt Security Transaction Disclosures
    • The trade confirmation requirement will be enhanced to include additional information and will include two new requirements:
      • Will indicate the two additional requirements
        • The security’s annual yield (ie: purchase) – AND-
        • The compensation from the debt security transaction including the amount of each transaction charge, DSC and any other charges
        • The total amount of all charges.
        • Debt Security Transactions (Link)
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May 12 & 13, 2015 - Watch Finaeos present at Finovate San Jose
Finaeos Automates the Back-Office & Compliant Capital Raising.

The JOBS Act has created a massive opportunity for millions of Americans who want to invest or fund their own small and medium sized businesses. Yet although many hurdles have been overcome, there is still a lot investors and businesses need to know and may need help with. Finaeos provides the access to professional advice, and the technology you need to help ensure your venture remains compliant, secure, and successful.

Finovate Spring 2015 Alumni

Our goal is to help businesses and investors take advantage of the new opportunities presented by the JOBS Act. We assist businesses in organizing their capital raising efforts in a logical, orderly and automated manner – saving everyone time, while ensuring compliance and value.

  • Private Placement Memorandums (Full Version Control for Legal and Disclosure Updates)
  • Automated / Fillable Forms & Workbooks
  • Subscription Documents and when required Promissory note in Debt Offerings
  • KYC “Know Your Customer”
  • KYP “Know your Product” (tests for agents)
  • AML “Anti Money Laundering” with specific considerations to BSA and the US Patriot Act
  • Digital Signatures upon EDGAR termination with heightened consideration of website filing & modernization
  • Mobile Access with consideration of OCIE Cyber Security Initiative April 15 2014 – National Exam Program