Quick Answer
The Financial and Operational Combined Uniform Single (FOCUS) report is a broker-dealer report used to provide regulatory financial information. It connects the firm's financial condition and regulatory calculations to reporting obligations, and it includes operational financial information. It is regulatory reporting, not a statement describing an individual customer's account.
With the FINOP's oversight role established, the FOCUS report is the reporting vehicle for the firm's regulatory financial information.
What the FOCUS Report Does
- The Financial and Operational Combined Uniform Single (FOCUS) report communicates a broker-dealer's regulatory financial information.
- It links the firm's financial condition and regulatory calculations to its reporting obligations.
- It also addresses the firm's operational financial information.
What It Is Not
| Item | Primary purpose |
|---|---|
| FOCUS report | Regulatory financial and operational reporting for the broker-dealer |
| Customer account statement | Information about an individual customer's account |
Firm financial information → FOCUS report → regulatory reporting obligation
Exam Tip: Gotchas
- The FOCUS report concerns the broker-dealer's regulatory financial information. A customer account statement serves a different purpose and is not a substitute for the report.