Built on the published rules

What your draft is checked against

• Federal law and rules: the Securities Act, Exchange Act, Investment Advisers Act, Investment Company Act and Commodity Exchange Act; SEC rules including the Marketing Rule, 206(4)-1; CFTC rules including Part 4; FinCEN anti-money-laundering rules; final and proposed rules from the Federal Register.
• Self-regulator rules: FINRA rules, regulatory notices and guidance; NFA bylaws, compliance rules and interpretive notices; MSRB rules.
• Staff guidance: SEC no-action letters, staff bulletins, exam priorities and risk alerts; CFTC staff letters and advisories; FinCEN guidance; NASAA model rules.
• Enforcement and court opinions: SEC administrative proceedings and litigation releases, NFA disciplinary actions, state enforcement orders from four states, and federal court opinions.
• State law: securities statutes or securities-regulator rules for 47 states.
• Sanctions: the OFAC sanctions lists.

How often the sources are updated

Most federal sources are updated daily, some as often as every four hours. State law is updated weekly, and a full sweep of every source runs each week.

From your document to a finding

A review reads your document against the provisions that apply to your firm and returns findings that quote the rule, letter or order they rest on. Anything the library cannot support is shown to the reviewer as unverified, never hidden. A qualified person makes every decision; the software identifies issues and records the review.