Our Services

Optimized & Industry-ready Solutions​

For All Your Compliance Needs​

As former regulators with FINRA (formerly NASD), we believe we have a unique insight into the regulatory system and a specialized knowledge of a very complex apparatus of securities laws, rules and regulations. Our company was founded in 2002 with the intent to provide our clients with the highest level of customer service, honesty and integrity. Our expertise and qualifications allow our team to provide a full suite of compliance consulting and exert witness services.

Chicago compliance consulting firms
Complete Services

Industry Focused Services​

New and Continuing Membership


The application process to start a new or change an existing FINRA Broker/Dealer or SEC/State Registered Investment Adviser can be overwhelming. All compliance, supervisory, control, and financial systems must be designed and implemented along with all the required books, records and documentation. We will expertly guide you through the maze and lead the process.

We will advise you through the whole process and remain the primary contact with the regulator. As the process progresses, we will be there to meet your needs and lead you through the next steps, including accompanying you on all calls and/or meetings during the process. Having worked on the regulatory side and through our work on dozens of applications to start or update firms, we are intimately familiar with the intricacies of the process and know exactly what is required.

Expert Witness Services

BDL Compliance Consulting has extensive experience with expert witness engagements and testimony having been involved in more than 50 cases concerning a wide array of securities industry issues and topics. We have also received special training and education in giving testimony. Some of the issues we have addressed as an expert witness include but are not limited to the following: Insider Trading, Ponzi Schemes, Due Diligence, Suitability, Fraud, Fiduciary Duties, Best Execution, Commission Disputes, Policies & Procedures, Outside Business Activities, Directed Brokerage & Commission Recapture Programs, Wrap Fees, Books & Records, Brokerage Operations, Industry Practices & Customs, Form U-4 and Form U-5 Disclosure. Some of the securities and product types that we have addressed as an expert witness include but are not limited to: Equities, Options, Fixed Income, Private Placements, Mutual Funds, Variable Annuities, Hedge Funds, and Commodity Pools. Additionally, we function not only as an expert witness but also as an advisor with these engagements, noting issues, rules, regulations and industry practices that may have been overlooked. Many of the cases we have been engaged with also require written reports that can be provided upon request.

Mock Examinations

We approach this process from the perspective and viewpoint of the examiner, based on our prior experience as regulators. We can provide an actual “mock” or practice regulatory exam and report the results to you. Since exams can be very intimidating and confusing, we are there to prepare you and guide you through the process. We can also advise you of as well as implement new regulatory requirements as they become effective. The end result is reduced exposure to regulatory risk.

Managed Compliance for Broker/Dealers and Registered Investment Advisers

We provide expert consulting and services that allow existing Broker/Dealers and Registered Investment Advisers to outsource all or part of their compliance function.

We will give you an appraisal of what the current regulatory requirements are since they are constantly changing as well as what the current areas of focus are for the regulatory bodies. We will make recommendations as to what should be improved and provide risk analysis as well as assurance that the existing processes are effective, implemented correctly, and are functioning correctly.

FINOP Services

We provide your firm with Financial and Operational Principle (FINOP) services that are in compliance with FINRA and SEC financial regulatory reporting and filing requirements including the filing of the monthly or quarterly FOCUS reports as well as maintenance of the financial books and records of your broker dealer. In addition to the net capital requirements under SEC Rule 15c3-1, we also provide services concerning the Reserve Computation under SEC Rule 15c3-3. Since we used to be on the receiving end of these financial reports as FINRA examiners, we are intimately familiar with the requirements. In addition, we have vast experience in filing reports, and maintaining the books and records. This is an area that has to be very precise and exact and can result in a firm and its principals being fined and sanctioned by FINRA and the SEC.

Need Help? We Are Experts!​

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