Regulations require that brokers file a Form 1 Position Report semi-annually, outlining the trust, general and equity position of the brokerage firm.
It is requirement of registration that firms file both a semi-annual and year-end financial position by completing a Position Report or Form 1 outlining the trust, general and equity position of the brokerage firm. There are Guidelines to Assist in Completing FORM 1 and reporting tips for those brokers who require clarification or wish to review common errors made when the Form 1 is completed.
RIBO also conducts spot checks, a review of the financial status of a randomly chosen brokerage by one of RIBO’s Financial Investigators. Please see the outline of the Spot Check process, including a list of information requested during a spot check and answers to frequently asked questions.
For further information on financial compliance, please contact the Financial Compliance Coordinator at diana@ribo.com or 416-365-1900.