Orchid Advisors

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Best Practices in ATF Record Keeping

Posted by Orchid Advisors on 9/25/19 3:35 PM

FFLs know the burden of the paperwork submission and record keeping requirements of the Bureau of Alcohol, Tobacco, Firearms and Explosives (“ATF”).  Between the various forms, the information required, the submission timing requirements, and record keeping retention requirements, it’s enough to make one’s head spin!  In this article we’ll identify applicable paperwork for various types of FFLs and provide suggestions on storage and retention based on our experiences with hundreds of FFL clients.  We will not go into excruciating detail of every statutory or regulatory mandate and exception therefor.  This is a short primer aimed at pointing you in the right direction and is not intended as legal advice.  For detailed requirements, exceptions, and how to apply regulatory mandates to your business, you should contact a qualified compliance professional or attorney.

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Top Three Criteria FFLs Should Use for Selecting ATF Compliant Bound Book Software

Posted by Orchid Advisors on 9/2/19 10:21 AM

For many in the firearms industry, the “bound book” is well known as the regulated record for tracking the lifecycle movement of a firearm through the commercial sector and between licenses and non-licensees. Perhaps less well known are the unintended consequences of relying on software company advertising and advice as the sole determination of your needs as an FFL.

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July Relatively Quiet Month Across State Capitols

Posted by Orchid Advisors on 7/26/19 1:55 PM

Every month Orchid Advisors provides NASGW members with a summary of legislation across the 50 States.  We endeavor to only publish information on bills that have a direct or immediate impact to your firearms business. 

After a busy June, the volume of firearms legislation in state capitols being introduced or passed in July was reduced considerably.  Here is a look at some of the notable legislation that saw activity this month:

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State Firearms Bills on the Move in June

Posted by Orchid Advisors on 6/26/19 12:35 PM

Every month Orchid Advisors provides NASGW members with a summary of legislation across the 50 States.  Instead of listing hundreds of bills every month that have little to no impact on your firearms business, we endeavor to limit our summary to those bills that are moving forward (or important bills defeated) in the legislative process.

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May a Busy Month Across State Legislatures

Posted by Orchid Advisors on 5/29/19 12:50 PM

Although more and more state legislatures are concluding their legislative sessions as the months progress there are still hundreds of bills pending – and more still being introduced – that directly affect FFLs.  Orchid Advisors continually monitors state legislation and sifts through the thousands of firearm and ammunition bills that may have little to no impact to firearms businesses in our efforts to keep the industry informed about new restrictions or obligations imposed upon them.   Here is a snapshot of state activity in May:

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Firearms Industry State Legislation Update

Posted by Orchid Advisors on 4/25/19 2:14 PM

It was an interesting April tracking industry legislation across the state capitols.  While there were no blockbuster bills passed restricting firearms or firearm parts or accessories, many bills were signed into law this month or were passed by state legislatures that impact how FFLs conduct business across the country.  Some of this month’s legislative activity that directly impact the industry are highlighted below, separated by status:

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Bills on the Move in State Capitols Impact Distribution Nationwide

Posted by Orchid Advisors on 3/27/19 2:59 PM

The past month has seen a lot of activity on legislation in many states that will impact the sale and distribution of firearms across the country.  We continue to see movement on bills that restrict certain firearms (e.g., “assault weapons”) or firearm parts (e.g., bumpfire stocks, binary triggers, etc.), as well as bills that impact the process surrounding the retail sale of firearms, which ultimately affects distribution.  This month we list bills that had action beyond committee hearings or assignments.  Below we have listed many important pieces of legislation we are tracking, grouped by their status.

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Legislation Impacting the Firearms Industry on the Move Across the Country

Posted by Orchid Advisors on 2/26/19 12:00 PM

As is typical, the beginning of 2019 has seen a flurry of legislative activity.  Generally speaking, the beginning of legislative sessions see more bills introduced than later in session.  Legislative activity impacting the sale and distribution of firearms is no exception.  We have already seen hundreds of bills introduced which are directly aimed at the industry.

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State Legislatures Return to Work – Hundreds of Bills Impacting Firearms Distribution Proposed

Posted by Orchid Advisors on 1/29/19 10:31 AM

It’s that time of year again.  State legislatures have returned – or will do so shortly – to their respective capitals and tens of thousands of pieces of legislation have been proposed that affect all aspects of daily life.  With respect to firearms ownership and distribution, hundreds of bills which can have a positive or negative effect have already been proposed.  Orchid Advisors monitors these bills on a daily basis to keep its clients informed and up to date.  While we will update NASGW members monthly on the status of bills that have been adopted, defeated, or are nearing adoption, below is a sample of some new legislation that has been proposed:

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Firearms Industry Distribution Affected by Multiple Pieces of Legislation in 2018 and 2019

Posted by Orchid Advisors on 11/27/18 2:23 PM

As 2018 winds to a close and the holiday shopping seasons escalate to a fever pitch, we take a look back at some of the bills that passed and went into effect this year.  Several thousand pieces of legislation were proposed that could have an impact upon the industry. These laws broach many topics, including permissible hunting products, who may purchase or possess firearms, what firearm accessories are permissible to own, and restrictions on particular firearm configurations.  In their own way, each of the foregoing examples affects most industry members directly or indirectly. 

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Whether you are a shooting sports manufacturer or wholesaler, you can stay up to date on what is going on at NASGW. Our recent news page is kept up to date with helpful information from our industry partners like NSSF, CSF, NRA, and NAW. Be sure to our InSight Newsletter to receive this information in your inbox. 

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