The SEC’s Division of Trading and Markets updated their “Frequently Asked Questions Concerning the July 30, 2013 Amendments to the Broker-Dealer Financial Reporting Rule” (the FAQs), specifically with respect to footnote 74 of SEC Release 34-70073, Broker-Dealer Reports. These modifications may affect certain exemption reports. As such we have provided the following:
- Notice - Changes to Broker-Dealer Exemption Reporting. This document explains the relevant changes in the SEC’s FAQs and the effect of those changes for audits of broker dealers.
- PBK-CX-16.8, Review of Exemption Report Under PCAOB Attestation Std. No. 2. We have modified step 2 and added a practical consideration on this matter.
- PBK-RP-6 2-21 Reports PDF. We have provided three new report drafting illustrations based on the authors' understanding of the effects of the modified FAQs.
These documents are available in the attached .zip file.
