Solicitors + SEC Compliance: The Challenge
As solicitor, preparing bank statements for sec compliance is a common but time-consuming task. Registered investment advisors, broker-dealers, and public companies need bank statement data for SEC compliance, custody verification, and regulatory examination responses.
How BankScan AI Helps Solicitors with SEC Compliance
Convert client and third-party bank statements to searchable, sortable Excel spreadsheets for faster case analysis and evidence preparation. For sec compliance specifically, BankScan AI extracts Client fund custody verification, proprietary trading account activity, segregat automatically.
How Solicitors Handle SEC Compliance
When preparing bank statements for sec compliance, solicitors need to Solicitors receive bank statements as part of financial disclosure in family, fraud, or commercial litigation. They review statements to trace assets,. BankScan AI automates the data extraction step.
Key terms you'll encounter: financial disclosure, Form E, asset tracing, client account reconciliation.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 12-36 months for SEC examination document requests; custody rule compliance requires ongoing quarterly verification of statements for sec compliance.
AI extracts what you need
Our AI extracts Client fund custody verification, proprietary trading accoun — formatted for solicitors workflows.
Complete your sec compliance work
Download Excel files ready for sec compliance. Account-level detail with clear identification of client versus proprietary accounts, reconciled to ADV Part 1 reported AUM; transaction types coded for examiner review
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Solicitors — SEC Compliance
- Built for Solicitors — Saves 1-2 hours per case on financial disclosure analysis, with complex matrimonial cases saving up to 4 hours per set of statements
- Software compatible — Output works directly with Clio, LEAP Legal Software, PracticeEvolve
- Built for SEC Compliance — Convert financial institution statements to structured spreadsheets for SEC examination preparation, custody audits, and regulatory filing support.
- Key data extracted — Client fund custody verification, proprietary trading account activity, segregation of client versus firm assets, fee deductions from client accounts, wire transfer activity
Compliance: Solicitors + SEC Compliance
When solicitors prepare bank statements for sec compliance, specific compliance requirements apply.
- SRA Accounts Rules require solicitors to reconcile client account bank statements within 5 weeks of the statement date. Failure to comply can result in regulatory action including fines or intervention. Anti-money laundering checks under the Proceeds of Crime Act 2002 also require scrutiny of client bank transactions.
- Legal basis: Investment Advisers Act of 1940 sections 204 and 206; SEC Rule 206(4)-2 (custody rule); Securities Exchange Act of 1934 section 17(a) (broker-dealer recordkeeping)
SEC Compliance — Built for Solicitors
SEC document request responses typically due within 1-2 weeks during an examination; failure to produce records promptly can escalate the examination scope
Try Free — Solicitors + SEC Compliance