What is focus IIA?
(FOCUS Report) GENERAL INSTRUCTIONS. 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.
What is a Focus report in broker-dealer?
Related Content. An SEC form (Financial and Operational Combined Uniform Single Report) on which a US registered broker-dealer reports to the SEC and its primary SRO its net capital position as calculated under SEC Rule 15c3-1 (the SEC net capital rule) on a monthly or quarterly basis.
What is a focus filing?
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.
Where can I find Focus reports?
Login to eFOCUS Go to https://gateway.finra.org/ and use your existing FINRA user ID and password to login. If you are not yet familiar with the Firm Gateway, a brief tutorial is available from the login screen. Upon logging in, access your firm’s FOCUS filing under the Requests option on the left navigation bar.
What is an SEC Focus report?
The SEC calls this form a Financial and Operational Combined Uniform Single (FOCUS) Report, as it presents a combination of the financial and operational health of a broker-dealer who is registered with the SEC.
What are allowable assets?
Allowable Assets – Firm’s assets that are readily available or convertible into cash.
Who are Focus reports filed with?
Members are required to file with FINRA, through the eFOCUS System, reports concerning their financial and operational status using SEC Form X-17A-5 (the “FOCUS Report”).
What is SEC Form 17 A?
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 are non allowable assets?
Non-Allowable Asset – An asset that is not readily convertible into cash. For net capital purposes, it reduces the firm’s net worth. Such assets could be accounts receivable that are not collected within 30 day period.
What is a broker-dealer firm?
A broker-dealer (B-D) is a person or firm in the business of buying and selling securities for its own account or on behalf of its customers. The term broker-dealer is used in U.S. securities regulation parlance to describe stock brokerages because most of them act as both agents and principals.