On November 12, 2024, Joe Puglisi, Managing Director at Integrated Solutions, participated in the NYSSCPA (New York State Society of CPAs) Broker Dealer Technical Session as part of a distinguished panel of industry experts. The session, which focused on the latest challenges and developments in the brokerage sector, brought together auditors, Financial Operations Principals (FINOPS), and other professionals to discuss key issues facing broker dealers today.

Key Topics Discussed:

• Accounting and Auditing Matters for Broker Dealers: The panel covered important updates on accounting and auditing issues affecting broker dealers, including the challenges firms are encountering in meeting the evolvi...

The Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 280, “Segment Reporting,” was issued in June 2009. The primary objective of ASC 280 is to provide more detailed and relevant information to users of financial statements, to improve users’ understanding of the entity's financial performance and potential. ASC 280 applies to public entities required to file financial statements with the SEC; private entities are generally exempt.

Accounting Standards Update (ASU) 2023-07 was issued in November 2023 and contains new requirements that include improvements to the information that a public entity discloses about reportable segments and report...

The NYSSCPA Alternative Investment Fund Conference recently featured a highly engaging panel on valuation, moderated by none other than Rafael Beck, Senior Managing Director. This event brought together industry leaders to discuss the latest trends, challenges, and best practices in the valuation of alternative investments.

Key Takeaways from the Panel

1. Current Trends in Valuation: The panelists highlighted the evolving landscape of valuation, emphasizing the impact of new regulations and market dynamics. They discussed how these changes are shaping valuation methodologies and the importance of staying adaptable.


2. Challenges in Alternative Investments: One of the main topics was the unique challe...

Integrated Solutions is pleased to announce that David Proskin has joined the firm as a Managing Director, effective October 1, 2024. With over four decades of experience in the financial services industry including Alternative Investments and Securities Broker Dealers, Dave brings a wealth of expertise to the team.

Dave’s extensive background includes leadership roles at several top-tier financial firms, where he developed strong relationships and expertise across multiple facets of the financial services industry. His deep understanding of the financial services industry and his innovative approach to problem-solving make him an invaluable addition to Integrated Solutions.

“We ar...

The financial world is constantly evolving, shaped by regulations, innovations, and the dynamic interplay between market forces. Amidst this landscape, the annual New York State Society of Certified Public Accountants (NYSSCPA) Stock Brokerage Conference serves as a crucial platform for industry leaders to converge, share insights, and chart the course forward. Among the distinguished speakers at this year's event was Rafael Beck, Senior Managing Director at Integrated Solutions, whose expertise as a FINOP (Financial and Operations Principal) provided invaluable perspectives on regulatory compliance and best practices.

On May 21, 2024, Rafael Beck took the stage alongside other esteemed profe...

Integrated Solutions is pleased to announce that Joseph J. Puglisi has joined our Firm as a Managing Director. Joe brings with him over 25 years of experience in all areas of public accounting with emphasis on the financial services industry and SEC related reporting, compliance and filings. His advisory experience includes extensive involvement with securities broker-dealers, investment management clients, Initial Public Offerings, reverse-merger transactions and private placements. We know that Joe will be an asset to our already existing team of professionals and look forward to welcoming him as a new member of our team! We believe that as a result of his wealth of knowledge and experien...

Please follow the link below to download our comment letter.

Comment letter on the proposed changes to SEC Rule 17a-5

Integrated Investment Solutions (IIS), an independent alternative investment fund administrator is pleased to announce for the fifth consecutive year, the successful completion and issuance of its Accounting, Administration and Investor Services System and Organizational Controls (SOC) 1 Type 2 Report for the period October 1, 2021, through September 30, 2022. An internationally acclaimed accounting firm once again conducted our audit and issued a report indicating its review and evaluation of the control environment for the services we provide. The report deemed that the controls that we have in place were suitably designed and operated effectively in order to successfully achieve our objec...

On November 4, 2022, the amended Rule 206(4)-1 (the “Marketing Rule”) under the Investment Advisers Act of 1940 (“Advisers Act”) goes into effect. The new Marketing Rule amends and merges two previous rules, the “advertising rule” (the former Rule 206(4)-1) and the “solicitation rule” (the former Rule 206(4)-3), into one overarching rule that regulates the marketing of investment advisers. In addition, Rule 204(2) “Books and Records” as well as Form ADV have been amended to address the changes. This memorandum will specifically address the impact of the New Marketing Rule on broker dealers marketing investments to potential investor...

Please follow the link below to download our comment letter.

Comment letter regarding proposed changes to FINRA Rule 3110 and the issue of branch office inspections