Core Compliance Blog Spotlight

Despite Potential Delays and Changes, Firms Should Begin implementation of REG BI Compliance

The Securities and Exchange Commission (SEC) issued its final decision on its three-part reform package last month, featuring the Regulation Best Interest (REG BI). The regulation will require broker-dealers to increase their disclosures and act in their client’s best interest when giving financial... Read More
Core Compliance Blog Spotlight

CFP Moves Forward with Revised Code of Ethics, Extends Enforcement Date to June 2020

The Certified Financial Planners (CFP) Board of Standards, Inc. released its revised Code of Ethics and Standards of Conduct last year. The most significant change under the new standards is that now all CFP professionals, including broker dealers, must adhere to the fiduciary duty when delivering... Read More

Flouting Compliance: Ascension Asset Management, LLC and Grenville M. Gooder, Jr.

May 16, 2019

On March 7, 2019 the Securities and Exchange Commission (SEC) filed a cease-and-desist order against Ascension Asset Management and its sole proprietor, Grenville M. Gooder, Jr. for numerous violations related to:

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Non-DVP Custodial Practices and Digital Assets: Your Input Requested

May 15, 2019

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Formation and Sale of “Blank Check” Companies: SEC Brings Fraud Charges

April 23, 2019

In late February charges of fraud by the SEC against broker-dealer Spartan Securities Group, Ltd. and transfer agent Island Capital Management, LLC are the latest in a series of SEC enforcement actions against parties engaged in the formation and trading of “blank check” companies.

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Improper Disclosure: BB&T to Return $5+ Million to Retail Investors and Pay Penalty

April 19, 2019

BB&T Securities, a brokerage subsidiary of BB&T Corp., has settled with the Securities and Exchange Commission (SEC) over charges that a firm it had acquired misled clients and overcharged them for advisory services.

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Non-Public Form N-PORT: Changes to Filing Date

April 17, 2019

Keeping up with the latest changes to filing requirements is a critical element of compliance at any firm.

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The CFTC Division of Market Oversight Compliance Branch Releases Inaugural Examination Priorities

March 14, 2019

On February 12, 2019, the Commodity Futures Trading Commission (CFTC) released its inaugural examination priorities for its Division of Market Oversight (DMO) Compliance Branch, the Division of Swap Dealer & Intermediary Oversight (DSIO), and the Division of Clearing & Risk (DCR).

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UPDATE: 2016 EDGAR Hacking Case - SEC Brings Charges

March 12, 2019

Even powerful entities like the U.S. government’s Securities and Exchange Commission (SEC) and major news agencies are not impervious to cyberattacks, despite the significant resources they dedicate to defending the valuable information they are responsible for.

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Data Leak at the Oklahoma Securities Commission: The Importance of Information Security

March 05, 2019

Almost every organization that is responsible for storing sensitive data, including private-sector corporations, investment firms, and government agencies, understands that effective cybersecurity plays an important role in shielding individuals’ personally identifiable information (“PII”) from...

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Updating Your Cybersecurity Policy: NFA Releases Interpretive Notice 9070

February 19, 2019

Our ever-increasing reliance on electronic devices and information technology to do business, combined with the constantly evolving methods used to electronically attack our firms and our clients, has elevated information security (cybersecurity) into a position of great importance.

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OCIE 2019 Examination Priorities Released

February 14, 2019

In a December 2018 press release, the SEC (Securities and Exchange Commission) announced the publication of the OCIE (Office of Compliance Inspections and Examinations) examination priorities for 2019.

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