Michigan’s financial sector plays a crucial role in the state’s economy, with major hubs located in Detroit, Grand Rapids, and Ann Arbor. Financial institutions, broker-dealers, and investment advisers operating in Michigan must navigate a complex regulatory landscape, governed by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and state regulations enforced by the Michigan Department of Insurance and Financial Services (DIFS).
Quadrant Regulatory Group specializes in providing tailored compliance consulting services in Michigan, helping firms effectively manage regulatory requirements, mitigate risks, and ensure compliance with both federal and state laws.
Why Choose Quadrant Regulatory in Michigan
Quadrant Regulatory Group combines extensive national compliance expertise with in-depth knowledge of Michigan’s specific regulatory environment.
- Comprehensive Understanding of Michigan Regulations – Our team is well-versed in the Michigan Uniform Securities Act and regulations enforced by the DIFS, ensuring that your firm remains compliant with all state-specific requirements.
- Tailored Compliance Strategies – We customize our solutions to address the unique needs of Michigan-based firms, whether you’re a small advisory practice or a large financial institution.
- Local Presence and Accessibility – Serving clients across Detroit, Grand Rapids, Ann Arbor, and other Michigan cities, to meet your compliance needs effectively.
Core Services Offered in Michigan
Quadrant Regulatory delivers a complete suite of regulatory compliance services for Michigan-based financial firms:
AML Compliance & Consulting
- Develop and implement anti-money laundering (AML) programs that comply with both federal standards and Michigan-specific regulations.
- Conduct independent AML audits, establish Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures, and implement ongoing transaction monitoring systems.
Investment Adviser Compliance
- Support Registered Investment Advisers (RIAs) with registration processes involving the Michigan Department of Licensing and Regulatory Affairs (LARA) and federal authorities.
- Ensure accurate Form ADV filings, maintain comprehensive supervisory documentation, and enhance fiduciary controls to meet Michigan’s regulatory standards.
Broker-Dealer Compliance
- Assist with broker-dealer registration in Michigan, including navigating FINRA membership and SEC filings.
- Provide guidance on adherence to Michigan’s Uniform Securities Act, ensuring compliance with state-specific disclosure, supervision, and licensing requirements.
Regulatory Filings & Risk Management
- Guide firms in complying with Michigan’s recordkeeping, disclosure, and reporting obligations.
- Conduct internal risk assessments and develop policies designed to withstand regulatory scrutiny and prevent compliance violations.
State-Specific Compliance Considerations
Michigan’s financial regulatory framework is governed by the Michigan Uniform Securities Act, administered by the DIFS. Key considerations for firms operating in Michigan include:
- Investment Adviser Registration Requirements – Individuals must register as investment advisers unless exempted under specific provisions.
- Examination and Qualification Standards – Investment Adviser Representatives (IARs) in Michigan are required to pass the Series 65 examination or a combination of the Series 66 and Series 7 exams, with certain exemptions available for those holding specific professional designations.
- Elder and Vulnerable Adult Protections – Effective March 13, 2024, Michigan law mandates that broker-dealers and state-registered investment advisers report suspected financial exploitation of elder and vulnerable adults to law enforcement or adult protective services.
Industries Served in Michigan
- Broker-Dealers – Ensuring compliance with SEC, FINRA, and Michigan-specific regulations.
- Investment Advisers – Assisting with registration, regulatory filings, and ongoing compliance support tailored to Michigan’s legal framework.
- Financial Institutions – Providing AML compliance services, risk assessments, and internal audits to maintain adherence to both federal and state regulations.
Why Partner with Quadrant Regulatory in Michigan?
By partnering with Quadrant Regulatory, Michigan financial firms gain access to:
Get Started with Quadrant Regulatory
Navigating Michigan’s complex regulatory environment requires a knowledgeable and proactive compliance partner.
Schedule a consultation with Quadrant Regulatory Group today to ensure your firm remains compliant and well-prepared to meet both federal and state regulatory challenges in Michigan.