Attendance grew once again at the Firearms Industry Compliance Conference (FICC) which was hosted at the beginning of May. The third annual FICC provided opportunities for all FFL types—manufacturers, dealers, importers, wholesalers, and distributors, as well as freight companies and second-tier suppliers—to join in the discussion of how to improve their business functionality.
We found this conference to have an excellent mix of break-out sessions that provided detailed industry and business knowledge to the attendees. If you haven’t joined one of these conferences, be sure to put the 2017 FICC on your schedule.
The key take-a-ways for us were three new ATF Rulings. These changes affect the Acquisition and Disposition record keeping and make electronic A&D record keeping rules clear.
- ATF Rul. 2016-1 sets out requirements for your electronic ATF bound book. Electronic tracking of acquisition and disposition makes business sense because it saves time and money in bookkeeping and auditing expenses. Now, the ATF updated rules for these electronic ATF records. Included in this ruling is the ability to use cloud-based technology and leased servers for your A&D software and records.
- ATF Rul. 2016-2 authorizes electronic submittal of ATF Form 4473 including electronic signatures provided that the licensee meets 22 specific requirements.
- ATF Rul. 2016-3 clarifies when and how the ATF A&D book documentation should be made. This ruling allows licensed manufacturers to consolidate their records of manufacture or other acquisition of firearms and their separate firearms disposition records if they meet the conditions in the ruling.
BASM’s electronic ATF bound book software, Easy Bound Book™ can help you adjust to these changes. We follow changes in ATF regulations closely and ensure that our A&D software meets these strict requirements.
Easy Bound Book™, a leading A&D software, was a Silver Sponsor of the FICC. Orchid Advisors, compliance and operations experts in the firearms industry, presented the conference along with the National Shooting Sports Foundation. Orchid Advisors CEO, Jon Rydberg said of Easy Bound Book, “They have a unique perspective on electronic A&D record-keeping and experience that our attendees can leverage in running their FFLs.”