SEC Form X-17A-5 is a mandatory financial and operational report known as the FOCUS Report (Financial and Operational Combined Uniform Single report) filed by registered broker-dealers, security-based swap dealers (SBSDs), and major participants under SEA Rule 17a-5.
Syndicate Legal Advisory Services provides nationwide legal document preparation services for broker-dealer firms required to file FOCUS Reports (Financial and Operational Combined Uniform Single Reports under SEC Form X-17A-5 and Rule 17a-5). We prepare and complete FOCUS Report forms and related schedules, including (but not being limited to): financial data, operational information, and specific instructions you provide.
Documents Commonly Prepared
We prepare a full range of documents associated with FOCUS Reports, including but not limited to:
- FOCUS Report Parts: Completion of applicable parts of Form X-17A-5 (such as Part I, Part II, or Part IIA), including statements of financial condition, computations of net capital, and related schedules, based on the financial and operational data you supply.
- Supporting Schedules and Computations: Formatting of net capital computations, aggregate indebtedness or alternative calculations, and other supporting schedules from the figures and information you provide.
- Amendments: Amendments to previously filed FOCUS Reports, prepared from the revised data and details you supply.
- Related Supporting Materials: Organization of exhibits, notes, or attachments incorporating client-supplied financial statements or other materials referenced in the reports.
- Annual Report Related Documents: Formatting assistance with portions of annual reports or related statements required under Rule 17a-5, based on information you provide (note: audited financial statements prepared by independent accountants are outside the scope of this service).
Documents are prepared for use in connection with electronic filings through FINRA’s eFOCUS system (or other designated systems) and any required SEC submissions (subject to the information you provide). FOCUS Report filing frequency (monthly or quarterly), specific parts required, deadlines, and content depend on the firm’s business model (e.g., carrying/clearing vs. introducing) under Rule 17a-5 and related rules; clients remain fully responsible for accurate financial data, electronic filing via eFOCUS or EDGAR as applicable, meeting all deadlines, retention of signed copies, and compliance with all SEC, FINRA, and related financial responsibility requirements.
