The FINRA Compliance Vendor Directory is accessible to existing FINRA broker dealer member firms only. If you are not yet a FINRA member firm, please see an outline of InnReg directory listing below.
Advertising Review: Yes
Description: Digital marketing policies and procedures We rigorously define policies and procedures that make sense for your digital marketing processes. Outsourced advertising reviews We make available experienced licensed principals to be registered with your firm and perform reviews and approvals of your advertisement pursuant to Rule 2210. Compliance review of digital marketing initiatives We assess each campaign and plan is assessed for potential risks and violations – and in addition, we review current and past campaigns to remediate any compliance issues. Monitoring of influencer activity On an ongoing, day-to-day basis, we review Influencer posts and activity on all relevant channels for compliance – in other words, we work as your compliance department.
Books and Records Recordkeeping: Yes
Description: We serve as a Designated Third Party pursuant to SEC Rule 17a-4 for your electronic storage setup, including most commercial cloud-based solutions (Google Cloud/GSuite, Microsoft 365, DropBox, Box, etc.) We help digital broker-dealers ensure compliance with the books and records requirements of SEC Rule 17a-3 by applying a proprietary verification process before the start of business operations and periodically thereafter.
Third-party vendor contributions: We utilize redundant, premier providers of SEC 17a-4 compliant backup services to maintain our clients'books and records.
Business Continuity Planning (BCP) and Disaster Recovery: Yes
Description: InnReg specializes in designing business continuity/disaster recovery procedures that emphasize the utilization of cloud-based technology solutions, allowing our clients to operate through a fully distributed workforce if desired or necessary. We are also experts in managing supervisory and compliance programs for clients with multiple domestic and international locations. We currently serve customers with locations in the EU, UK, Latin America, and Asia.
Change Management: Yes
Description: InnReg supports the kind of cutting-edge fintech visionaries who disrupt the marketplace with highly creative products and services. Much of our time is spent navigating uncharted territory. We partner with our clients to achieve long-term profitability by designing and deploying out-of-the-box yet low-risk solutions to fulfill regulatory compliance requirements. We help our clients to: - Determine the best product configuration and regulatory structure to maximize functionality and sales revenue - Build the optimal workflow design to provide a superior user experience for customers, back-office managers, and strategic partners
Chief Compliance Officer (CCO) Services: Yes
Description: We have a roster of licensed principals with a proven record of accomplishments in the digital brokerage arena. We make staff available at all levels of seniority available for registration with our clients to fulfill required supervisory and compliance responsibilities: - Executive level: CCO (chief compliance officer), supervisors (Series 24, 4, 53, 57, 9, 10 licenses) and FINOP (financial operations principal, Series 27 license) - Manager level: staff to support in-house CCO - Fully managed: complete team provides compliance department in-a-box.
Code of Ethics: Yes
Description: InnReg is an expert in incorporating best practices for digital broker-dealers into required internal documentation such as Code of Ethics statements and in customizing policies and procedures to apply to highly innovative business models and technology-based processes.
Compliance Manual: Yes
Description: InnReg is an expert in incorporating best practices for digital broker-dealers into required internal documentation such as compliance manuals and in customizing policies and procedures to apply to highly innovative business models and technology-based processes.
New Product Review/Due Diligence: Yes
Description: You've developed an innovative new product that's sure to disrupt the status quo in the fintech space, but will it also fulfill all applicable regulatory compliance requirements? At InnReg, we're passionate about maintaining your creative vision without raising regulatory red flags. We work with our clients to maximize their product functionality, optimize user experience, and maximize profits. We help our clients determine: The optimal regulatory structure given the product compliance requirements, the competition, the business model, the long-term growth strategy, and the changing regulatory environment. The best operational model to simplify regulatory requirements, create process efficiencies, and save money.
Outside Business Activities (OBA): Yes
Description: Technology-based broker-dealers are often part of sophisticated corporate structures. Associated persons are often operating as shared resources within that structure. Independent contractors are often utilized. InnReg offers the sophistication necessary to address all disclosure requirements associated with non-traditional workforce utilization models.
Registered Representative Screening, Background Checks and Onboarding: Yes
Social Media Compliance: Yes
Description: Digital marketing policies and procedures We rigorously define policies and procedures that make sense for your digital marketing processes. Rules of conduct for influencers We give you written rules of conduct that protect you against potential influencer violations (intentional or unintentional). Influencer onboarding process We develop and manage the process for getting your influencers up and running while following the necessary requirements. Compliance review of social media initiatives We assess each campaign and plan is assessed for potential risks and violations – and in addition, we review current and past campaigns to remediate any compliance issues. Monitoring of influencer activity On an ongoing, day-to-day basis, we review Influencer posts and activity on all relevant channels for compliance – in other words, we work as your compliance department.
Start-up of New Broker Dealers: Yes
Description: InnReg is uniquely positioned to support innovation in the brokerage and online trading space. Since our inception in 2013, we have supported the launch of 16 digital broker-dealers. In addition, Francesco Matteini, our founder and CEO, helped launch TradeKing and Zecco as their in-house CCO. Under his watch, these two companies were successfully launched and then merged into one of the largest online brokers with half a million traders and almost $3 billion in assets. Online broker-dealers face distinct regulatory challenges compared to traditional brick-and-mortar players. This is not just a different delivery vehicle. The digital trading platform is an integral part of the product that's as important to the value proposition as the stocks, ETFs, and options offered for trading. At InnReg, we work with online broker-dealers in five key areas: - We help determine the best regulatory structure based on your business model, technology, and user acquisition strategy. - We take the lead in articulating the unique nature of your business to the regulators. - We develop and manage your compliance and operational workflows to efficiently manage high volumes in user onboarding and transaction processing. - We take ownership of your compliance and back-office operations on a fully outsourced basis, allowing you to focus on developing your product and acquiring users. - We can leverage your current platform or recommend the best technology stack to fulfill all your compliance and needs, both effectively and cost-efficiently. The final recommendation often integrates proven third-party solutions into your proprietary technology to achieve the optimal result. All of our systems and databases are cloud-based, so your team has easy access day or night from onsite or remote locations.
Written Supervisory Procedures (WSP): Yes
Description: InnReg is an expert in incorporating best practices for digital broker-dealers into required internal documentation and in customizing policies and procedures to apply to highly innovative business models and technology-based processes.
Back Office Support Training: No
Employee Code of Conduct: No
New Hire Training: No
Audit and Financial Reporting Preparation: Yes
Description: We have a roster of licensed FINOPs with a proven record of accomplishments in the digital brokerage arena. Our FINOPs have a sophisticated knowledge of the financial management requirements typically associated with innovative, technology-based business models. We make them available for registration with our clients to fulfill their financial reporting requirements correctly and efficiently.
Financial Statement Preparation: Yes
FINRA Regulatory Filings: Yes
Material Consult Letters: Yes
New and Continuing Member Applications (NMA & CMA): Yes
Description: InnReg has supported the successful registration of many innovative, technology-based broker-dealers since its founding in 2013. We are experts in designing compliance platforms to support one-of-a-kind business models and in articulating our client's case with regulators. We will help you with the build (NMA) vs. buy (CMA) decision by providing unbiased assessments of acquisition opportunities. We will then lead you through the membership application process, making available our deep experience in supporting similar innovation-minded applicants.
SEC and Other Regulatory Filings: Yes
FINRA Exam Support: Yes
Description: We have been by our clients' side through dozens of regulatory exams. We are available to share a decade and a half of experience in fielding probing questions and challenges to the validity of our clients' supervisory and compliance programs. From cycle exams to challenging enforcement interactions, InnReg provides the knowledge and experience to help our clients satisfy regulatory requests and mitigate risk.
Firm and Branch Audits: Yes
Mock Regulatory Exams: Yes
Responding to Documentation Requests: Yes
Client Onboarding: Yes
Description: Compliance and back-office workflows have become increasingly complex. Especially in a world of outsourced functionality, it can be a struggle to maintain efficiencies while reconciling multiple systems. A simplified workflow that minimizes steps without sacrificing the accuracy of critical functions is essential in order to minimize risk, increase efficiencies, lower operational costs, and support a scaled growth phase after launch. Over the past ten years, our efficient workflows that meet all regulatory compliance requirements (e.g., SEC, FINRA, CFTC, NFA, and CFPB) have systematically decisioned and onboarded more than 1 million new user accounts with more than 50 million financial transactions.
Client Risk Screening: Yes
Customer Suitability: Yes
Tie Regulatory Content to Firm's Internal Workflow: Yes
Description: We help our clients develop and deploy a variety of systems, processes, and workflows: - Customer onboarding (e.g., KYC/CIP, account applications review, and due diligence) - Back office operations (e.g., application processing, personal data gathering, AML compliance, funds transfer, payments processing, and data management) - Surveillance, anti-manipulation, and suspicious activity monitoring - Marketing and advertising compliance (e.g., review of strategic plans, review of online and offline communications) Integration of affiliate marketing programs and strategic partners.
Enforcement Actions and Analytics: No
Interpretive Guidance and No-Action Letters: No
Rules and Regulations: No
SEC Comment Letters: No
Anti-Money Laundering (AML) Consultation Services: Yes
Employee and Registered Rep. Communications: Yes
Fraud Analysis and Forensic Testing: Yes
Trade Surveillance: Yes
Transaction Monitoring: Yes
Vendor Monitoring and Due Diligence: Yes
Do you have additional Compliance Consulting services? Yes
Description: Is your organization cyber safe? Cybersecurity is a complex discipline. Threats morph. New cyber-specific regulatory units emerge. Regulatory guidelines change. Enforcement policies evolve. And now companies doing business with an enterprise that has an EU footprint may need to comply with European General Data Protection Regulation (GDPR) rules, in addition to US rules such as the California Consumer Privacy Act. It should be no surprise to learn that Information Security has become one of the fastest-growing career categories.
At InnReg, we're passionate about mitigating cybersecurity risk. We partner with early-stage companies as well as established firms. We help our clients understand the regulatory requirements applicable to their business, and then we work with them to develop and deploy a custom InnReg Cybersecurity Protection system.
The process begins with an assessment of your current information security program. The resulting analysis becomes the basis for a two-prong approach designed to prevent and protect. This dual-action protocol works to reduce the threat of a breach and to reduce the threat of a regulatory enforcement action.
Your custom InnReg Cybersecurity Protection system will include these steps and deliverables:
Are you willing to provide your pricing model? Yes
Description: Our typical pricing model is centered around fixed periodic retainer fees. This model provides price certainty for our clients and enables them to utilize our outsourced services as they would utilize full-time in-house resources, i.e., without having to continuously make the cost-benefit determination that comes when hourly fees are charged. We want our clients to consider InnReg as an extension of their executive and operations teams, accessible without limitation in the course of the business day, without concern for running up the cost of the service. Retainer fees also facilitate comparison with the costs associated with staffing similar functions in-house, allowing the client to easily assess the efficiency of outsourcing those functions to InnReg.
Risk Data Aggregation: No
Risk Metrics Creation: No
Risk Reporting: No
Sarbanes Oxley: No
FINRA's Membership process: Yes
New firms register with FINRA: Yes
File Registration forms via Web CRD/IARD "on behalf of" the firm: Yes
Does your company provide other registration offerings/filings via the FINRA Firm Gateway: Yes
Registration services as a component of a larger enterprise solution: Yes
Super Account Administrator (SAA) services: Yes
Interface with FINRA's Web Electronic File Transfer (EFT) portal providing the ability to submit bulk/batch uploading of registration filings to Web CRD/IARD: Yes
Interface with FINRA's Web EFT portal providing the ability to download data (reports) from Web CRD/IARD: Yes
Are you willing to provide your pricing model? Yes
Description: Registration services are incorporated into our broader outsourced services offering. Please see the details on our pricing model under the Compliance Consulting section above.
Secure network facility where individuals can be electronically fingerprinted and that data can be integrated with FINRAs Electronic Fingerprinting Program: No
Live scan fingerprint solution for a firm to purchase, rent, or subscribe to: No
Has FINRA certified your company to provide Electronic Fingerprint Submission services: No
Does your company offer other Registration offerings: No