Latest risk management updates

Identifying and Mitigating Advisory Conflicts of Interest

Conflicts exist in every business.  However, investment advisers have a fiduciary duty to always put the interests of their clients ahead of their own.  There are several areas of an adviser’s business that have potential conflicts of interest and even certain activities that carry inherent...

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Latest risk management updates

Staying Ahead of the Cybersecurity Curve: Part II

In September of this year, the Securities and Exchange Commission (“SEC”) charged Voya Financial Advisors, Inc. (“VFA”) with violating Rule 30(a) of Regulation S-P (“Privacy Safeguards Rule”) and Rule 201 of Regulation S-ID (“Identity Theft Rule”) due to VFA’s failure to take appropriate steps to...

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Risk Management Update: Risk Management Steps for Dealing with Inadvertent Custody

December 20, 2017

Determining whether or not your investment advisory firm has custody is not an easy task, but it is necessary.  While having custody of client assets is not prohibited under Rule 206(4)-2 of the Investment Advisers Act of 1940, as amended (the “Custody Rule”), having custody without adhering to the...

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Risk Management Update: Compliance Year-End Preparation Checklist

October 31, 2017

It’s time to start thinking about all the compliance projects that need to be completed before the end of the year.  While the Securities and Exchange Commission (“SEC”) slowed their pace on adopting new regulations during 2017, they continue to bring enforcement actions against investment advisers...

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New York’s Cybersecurity Requirements for Financial Services Companies

October 19, 2017

In 2017, the State of New York’s Department of Financial Services (“DFS”) adopted new requirements for financial services companies (“Covered Entities”)[1] to create and maintain robust cybersecurity policies and programs in a continuing effort to thwart cybercrimes and large scale cyber-attacks,...

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Important Risk Management Protocols to Consider for Alternative Investments

September 20, 2017

Risk Management Update September 2017 In an ongoing effort to diversify into non-market correlated investments, more and more advisory firms are offering strategies that include alternative investments. This term is broadly used in the industry and encompasses several types of assets, including but...

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What Advisers Need to Know About Wyoming's New Investment Adviser Regulations

August 25, 2017

On July 1, 2017, the State of Wyoming's new regulations became effective, which require certain investment advisers ("IAs) and investment adviser representatives ("IARs") to register with the State in order to provide investment advice in Wyoming. [1]

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What Advisers Need to Do to Prepare for Upcoming Changes to Form ADV

June 26, 2017

In their continued quest to obtain “big data” from registrants, the U.S. Securities and Exchange Commission (“SEC”) issued a final rule in August 2016, which significantly expands the information required in Form ADV.[1]  The compliance date for the rule is October 1, 2017, and all investment...

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Compliance Protocols for Dealing with Current Cybercrimes

May 17, 2017

According to a Data Breach Investigations Report published by Verizon in 2016,[1] there has been a definite upward trend in the number of people clicking on “phishing” emails since 2014.  Phishing is a type of social engineering used by hackers to trick people into introducing a virus into their...

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2017 Solutions for Compliance Professionals

April 18, 2017

At the beginning of every year, the Securities and Exchange Commission’s (“SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) identifies its examination priorities for the coming year. These priorities, which are based on perceived heightened risks to investors and the U.S. capital...

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Beyond the DOL Rule - A Look at SEC Expectations for Advisers Managing Retirement Accounts

March 21, 2017

The fate of the Department of Labor’s (“DOL”) Conflicts of Interest rule (the “DOL Rule”) is uncertain. However, regardless of whether the rule gets delayed or repealed, the Securities and Exchange Commission (“SEC”) continues to focus on the services being provided by investment advisers to...

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Why Investment Advisers Should Perform Annual Risk Assessments

February 20, 2017

"Risks applicable to investment advisers continue to be a high priority focus for the Securities and Exchange Commission (“SEC”).  To that end, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) is tasked with the responsibility of, among other things, monitoring risk applicable...

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Investment Advisers - What You May Not Know Could Affect Your Registration

January 27, 2017

There are many facets surrounding the registration of investment advisory firms (“IA Firm”) and investment adviser representatives (“IAR”) and the process can be erroneous if not performed correctly. Since registration is one of our core service offerings, we get asked a lot of questions from...

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Creating a Robust Compliance Program

December 06, 2016

The Compliance Program

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