FOR EXECUTING, CORRESPONDENT AND CUSTODIAN BROKERS
Cross the T’s and Dot the I’s on Regulation T Requirements
Accessible. Searchable. Compliant. With Freefunds Verified Direct™, brokers can seamlessly complete all Regulation T balance verifications and requirements. And, cloud storage makes it easier than ever to store, search and retrieve documents related to LOFF requests.
Track open and non-responded Letter of Free Funds (LOFF) requests.
Protect against possible free-riding activity.
Comply with SEC Reg. T 220.8 and SEC 17a-4 storage requirements.
All In One, All Online
Electronically supervises the completion, centralization, storage,
and retrieval of all DVP/COD Letter of Free Funds.
Can be accessed remotely via a secure connection 24/7/365
from virtually any computer in the world.
Fast, Easy Retrieval
Assists in the compliance of SEC 17a-4, by easily retrieving all stored letters and images, as required.
Provides self-explanatory workflow and easily tracks open and non-responded items.
Reduced Risk of Fines
Proven to protect against SEC/FINRA censures and fines.
Save Time And Money
Reduces costs and increases operational efficiency while helping your firm Go Green.
Compliance and Regulatory Requirements
NYSE and NASD executing/clearing brokers are required to verify funds availability with broker dealer custodians by T+5 for every non-exempt security trade with a principal in excess of $1,000. Most perform this verification via a faxed Letter of Free Fund. Not performing verification in a timely manner could lead to fines, penalties, and having a client’s account restricted for 90 days in accordance with this SEC mandate.
Freefunds Verified Direct™ effortlessly and securely satisfies these regulatory verification and notification requirements.