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.
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.