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What is the difference between a FOCUS Report Part I and a FOCUS Report Part II/IIA?

April 26, 2017difference focus ii IIA report

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What is the difference between a FOCUS Report Part I and a FOCUS Report Part II/IIA?

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All firms are required to file a FOCUS Report Part II or IIA on a quarterly basis. Clearing firms and firms that carry customer accounts file Part II and introducing firms file Part IIA. The FOCUS Report Part I is filed by any firm that operates pursuant to the $100,000 minimum net capital requirement or higher for months that do not require a Part II/IIA filing.