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Michael R. Schaps is Vice President and Manager of the Broker/Dealer Division at MGL Consulting Corporation. Mr. Schaps has in excess of thirty years experience in the securities and accounting fields and his responsibilities include consulting with clients regarding the structure and documentation of their supervisory systems and procedures and business continuity programs, to comply with current regulatory requirements. He is also available to interface with clearing firms to coordinate their due diligence process, ACAT transfers, and accounting issues. Mr. Schaps is available to consult with clients regarding capital structures of their broker/dealer entities, as well as registration of their firms with FINRA, SEC and various state agencies as broker/dealers. He is available to interface with accountants on the preparation of annual audits for submission to FINRA, SEC and states. He assists with the preparation of underwriting calculations, as well as monthly and quarterly financial reports for FINRA and SEC.Mr. Schaps is available to work with FINRA staff members in various Districts to review, negotiate and modify firm’s Membership Agreements to properly address and or expand the business scopes of our clients activities. He also works with clients to develop their business plans and financial projections for submission to FINRA as part of their registration and modification filings. Mr. Schaps holds a Bachelor of Business Administration from Bernard M. Baruch College of the City University of New York. He holds the General Securities Principal, General Securities Representative, Financial and Operations Principal, the NYSE Branch Office Manager / General Securities Sales Supervisor, the NYSE Compliance Officer and the Uniform State Agent Law Examination registrations with the National Association of Securities Dealers, Inc. Prior to joining MGL Consulting Corp., Mr. Schaps’ experience has included functioning in the following capacities with various NYSE and FINRA Member Firms; Chief Financial Officer, Chief Operating Officer, Branch Office Manager, Compliance Director, Accountant/Controller and Internal Auditor. Mr. Schaps has been responsible for the preparation of financial filings with regulatory agencies, registration filings with FINRA and state regulators, preparation and monitoring of firms’ budget data, daily reviews of risk management for market maker operations, acting as liaison with clearing brokers, resolution of trade differences and customer inquiries, coordination of operations of international branch offices, supervision of administrative staff and establishment and monitoring of communications and trading systems. | 