FirstMark’s Philosophy …
FirstMark Regulatory Solutions provides senior-level regulatory consulting to broker-dealers, investment advisers, and financial services firms facing defined compliance, supervisory, examination, enforcement, registration, testing, or remediation needs. The work is practical, direct, and grounded in regulatory experience. The objective is not to produce generic compliance language or unnecessary work product. The objective is to help the firm understand the regulatory issue, address it with appropriate judgment, and document the work in a manner that is useful to management, compliance personnel, and acceptable to the regulators.
Quality is not only about technical accuracy. It is also about producing work product that the client and the regulators can respect.
FirstMark focuses on selected engagements where senior-level attention matters, including AML independent testing, supervisory controls testing, FINRA membership matters, regulatory examinations, enforcement support, training, and compliance remediation.
How FirstMark Works
Initial discussions are used to understand the firm’s business model, regulatory issue, timing, and desired deliverable. When an engagement is appropriate, FirstMark provides a written proposal describing the scope of work, expected deliverables, timing, and fees.
Engagements are handled with direct senior-level involvement. Clients are not routed through commissioned salespeople or handed off to junior consultants after engagement.
FirstMark does not use template-driven approaches. Each engagement is scoped around the firm’s business model, regulatory obligations, risk profile, supervisory structure, and practical needs.
AML Independent Testing
FirstMark offers Anti-Money Laundering (AML) independent testing that satisfies the requirements of FINRA Rule 3310(c) for an annual, calendar year test of the firm’s AML compliance program. FirstMark’s founder has extensive experience in AML compliance. FirstMark’s BD consulting services include reviews of the adequacy of a firm’s BSA, OFAC and AML compliance programs. More…
FINRA New Member Applications
FINRA membership is a privilege shared by fewer than 3,300 brokerage firms in the United States and abroad. There are extensive requirements that must be met prior to gaining FINRA approval of your new member application (NMA). Secure BD consulting services that include a true FINRA NMA expert to increase the chances that your application will be approved sooner than the maximum 180 days afforded to FINRA by its rules. More…
FINRA MATCON
A FINRA materiality consultation (MATCON) is a formal, written request in which a broker-dealer requests that FINRA opine on whether it views a proposed change in business operations as material under NASD Rule 1011(k). In other words, it is a request to FINRA that details a proposed change and requests guidance from FINRA about whether a more formal filing is needed. This is typically filed in lieu of a formal CMA application and is generally much faster than a CMA. FINRA does not charge for a MATCON and usually issues a decision within 30-60 days, although there are no formal time-frames. FirstMark has extensive experience with MATCONs and understands what FINRA expects to see in making its determination. Consider FirstMark’s BD consulting services for the preparation and filing of your firm’s MATCON. More…
FINRA CMA
A continuing membership application, or FINRA CMA, is a formal application for approval of a material change in business. This may include the addition of a business line, change in business operations, change in ownership, bulk transfer of accounts of another firm using the negative consent process, or other changes. FINRA charges a fee for CMA filings, but grants waivers in some instances. FirstMark has extensive BD consulting experience in all types of CMA filings. Using an experienced BD consultant when filing your CMA is critical. With CMA filings, quality is key to gaining approval as quickly as possible. FINRA carefully scrutinizes business changes and FirstMark ensures that your application for FINRA approval of these changes is carefully prepared. More…
RIA Applications
Whether you are interested in an investment adviser registered with the SEC or with an individual state, FirstMark can help you with competitive pricing on complete RIA applications. FirstMark works with partners to develop a custom plan for your RIA. We don’t use “cookie cutter” approaches since your goals for your project are unique. FirstMark works with RIA compliance experts who have decades of experience in complex RIA issues. A typical application includes the filing of Form ADV, development of a Code of Ethics and Compliance and Supervisory Procedures, and regulatory responses. More…
Supervisory Controls Testing
FINRA Rule 3120 requires that its members test and verify that their supervisory procedures are adequate to achieve compliance with rules that apply to that broker-dealer based on its business operations. It also requires an annual report detailing the firm’s system of supervisory controls and summarizing the test results. Additionally, FINRA Rule 3130 requires that the CEO of a broker-dealer certify annually as to processes to establish, maintain, review, test and modify compliance and supervisory procedures. FirstMark has extensive experience in supervisory controls assessment and provides this service to clients. More…
Enforcement
Regulatory enforcement investigations and proceedings are mentally and physically exhausting for those involved. Using expert BD consulting services is critical to effectively navigating such a matter. Often these proceedings involve FINRA OTR letters (on-the-record interviews). FirstMark helps BD consulting clients with many aspects of Enforcement investigations, from supporting you and your counsel in preparing for OTRs, consulting on the compliance aspects of the underlying matters, to helping a client to complete undertakings that may have been required as a result of an enforcement action. However, FirstMark cannot substitute for your counsel, as it is not a law firm and does not provide legal services. More…
Regulatory Examination Support
A regulatory examination, at a minimum, can be stressful. Preparing responses and organizing information can consume a significant amount of time. And regulators often give very short turnaround times on requests. Rarely is a compliance officer’s calendar sufficiently empty to handle another full-time job. FirstMark can help reduce the stress by managing and/or drafting your regulatory responses. FirstMark’s expert BD consulting services can help you understand the direction the regulators are going and your best course of action. FirstMark also provides assistance with corrective action that may be required as a result of an examination, including training, follow-up reviews, and more. More…
Training Support
When it comes to training and development, one of the biggest challenges is having the time to develop and deliver a training session. Next is the issue of finding the person or persons who are qualified to deliver it, and of course, having those persons take time from their regular jobs to do so. FirstMark can help develop and deliver training based on client specifications. This is the way clients deliver high-quality training without a negative resource impact on mission critical staff. More…
Founder-Led Engagement
FINRA Compliance Podcasts
- How FINRA Is Enhancing Member Firm Examinations
- Trading Around the Clock: Inside FINRA's Trade Reporting Enhancements
- How FINRA Is Streamlining Data Requests
- Financial Security in 2026: Tips for Investors and How Firms Can Help
- Investors in the United States: Key Trends and Insights from the National Financial Capability Study
- Navigating the 2026 Regulatory Oversight Report: Key Insights from FINRA Leadership
- Making Your Voice Heard Through FINRA Member Engagement
SEC News
- SEC Charges 21 Individuals With Alleged Wide-Reaching Insider Trading Scheme
- SEC Divisions of Investment Management and Corporation Finance Issue Staff Guidance Supporting Retirement Plans for Small Businesses
- SEC Proposes Amendments to Permit Optional Semiannual Reporting by Public Companies
- Deputy Director of Enforcement Jason Burt to Conclude His Tenure at the SEC
- SEC and CFTC Jointly Propose Amendments to Reduce Private Fund Reporting Burdens
- Chairman Atkins Launches 'Material Matters' Podcast
- SEC Small Business Advisory Committee to Explore Ways to Encourage More IPOs