The SEC (Securities and Exchange Commission) Whistleblower Program, created in the wake of the 2008 financial crisis as part of the Dodd-Frank Act, has been nothing short of success (at least, from the standpoint of regulators and whistleblowers). Since its … Read More
Even though the Department of Labor’s (“DOL”) Fiduciary Rule (which was designed to expand the definition of what constituted fiduciary advice as part of the Employee Retirement Income Security Act of 1974 (ERISA)) has been vacated by the 5th U.S. … Read More
Though the rule that requires firms to have a Code of Ethics (“Code”) is over a decade old, compliance professionals regularly deal with issues within their firms arising from the Code, and it’s not uncommon for firms to create a … Read More
The issue of Robo-advisers (and the potential regulatory consequences of an adviser that relies heavily on automation to achieve what was traditionally achieved through human interaction) is nothing new. In fact, electronic investment advice has been a continuous SEC top … Read More
We live in a world filled with bad actors who consistently attempt to take advantage of flaws and weaknesses in our financial systems, often to the detriment of the law-abiding majority. When these efforts reach a grand scale in the form … Read More
Though once thought no more than a digital curiosity, a passing Millennial trend, or something only used by criminals in illicit, internet-based black markets, so-called virtual currency (which includes cryptocurrency, like the well-known Bitcoin), has become a staple of the … Read More
The importance of having proper policies, procedures, and controls in place to ensure your firm is in compliance before regulators come knocking cannot be overstated — and every few months it seems, an example finds its way into the news … Read More
[UPDATE] On June 21st, 2018: The U.S. Court of Appeals for the Fifth Circuit issued a mandate today that vacated the DOL Fiduciary Rule. With over 20% of the U.S. population projected to be over the age of 65 by … Read More
For many firms, the idea of hiring an outsourced compliance consultant or paying for outsourced compliance services doesn’t always seem palatable. After all, the cost of hiring outside contractors certainly isn’t low, and for many firms, especially when starting out, … Read More
The SEC has released its 2018 examination priorities, and the focus on, and protection of, aging clients, and considerations related to such clients (as a subset of retail investors generally), is a continuing theme. The focus on these investors has … Read More