Spicer Jeffries LLP currently provides services to nearly 75 broker-dealers and has served over 250 broker-dealers in its history. These entities include self-clearing organizations as well as those with fully-disclosed clearing arrangements and range in size from operations with minimal support staff to full service broker-dealers with over 700 registered representatives.

Audit

As the independent auditors of numerous broker-dealers, we are able to conduct our audits very efficiently and cost effectively. This also allows us to complete the audit on a very timely basis, which we believe is necessary in delivering our service.

Our clients have consisted of:

• Retail broker-dealers
• Over the counter market makers and retailers
• Investment bankers
• Internet brokerage
• Foreign broker-dealers

Regulatory Compliance

Broker-dealers operate in a highly regulated environment with rules and interpretations of the Securities and Exchange Commission and by self-regulatory organizations such as the FINRA. We regularly provide clients with guidance on the rules that directly affect the broker-dealer community as well as have frequent dialogue with the self-regulatory organizations regarding rule interpretations on behalf of clients. Our professionals have served as expert witnesses before the FINRA on broker-dealer regulatory issues. In addition, we are frequently called upon by clients or attorneys regarding the interpretation of SEC rules and generally accepted accounting principles as they relate to broker-dealers.

Organizational Issues

We are very familiar with the requirements of becoming a broker-dealer and we assist clients with determining the most advantageous business form (such as C corporation, S corporation and Limited Liability Company) for the entity to operate in order to minimize the income taxes imposed on the broker-dealer. Additionally, we can introduce you to various consultants who can assist with various financial and operational compliance issues, such as FOCUS report preparation, accounting, compliance manuals, and anti-money laundering compliance issues.

Tax

As a result of our significant expertise, we provide our clients with advice on the tax and economic effects in all areas of taxation, including those specific to broker-dealers. We are also able to advise clients on the timing and use of various tax elections peculiar to broker-dealers.