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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Are You a Level Fee Fiduciary?

November 21, 2016

The Department of Labor’s (“DOL’s”) Conflicts of Interest rule (“the DOL Rule”),[1] and its broad applications, will inevitably impact a wide range of retirement investors and most financial services firms that deal directly with investors.  As the DOL Rule will materially go into effect April 10,...

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Compliance Year-End Preparation Checklist

October 27, 2016

The end of 2016 is fast approaching and the financial services industry has been hit this year with some very important and complicated new regulations, such as the Department of Labor’s Conflicts of Interest Rule (“DOL Rule”) and the Securities and Exchange Commission’s (“SEC”) amendments to Form...

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SEC Releases Amendments to Form ADV and Other Investment Adviser Act Rules

October 03, 2016

In a press release dated August 25, 2016,1 the Securities and Exchange Commission (“SEC”) announced their issuance of a final rule, which amends Form ADV (Uniform Application for Investment Adviser Registration), along with five other rules under the Investment Advisers Act of 1940, as amended...

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Pitfalls of Performance Advertising by Investment Advisers

August 24, 2016

In this age of technology, advertising and marketing by investment advisers can be very economical and the venues numerous.  Advisers utilize websites, social media, blogs and blast messages as their main distribution channels and all of these mediums have far reaching capabilities. While the SEC...

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SEC Proposed Business Continuity & Transition Plan Rule: More than Just Disaster Recovery Planning

July 20, 2016

On June 28, 2016, the Securities and Exchange Commission (“SEC”) issued a proposal requiring SEC registered investment advisers to implement a written business continuity and transition plan (“BCTP”).1   In the corresponding press release,2 the SEC stated that the purpose of the proposed regulation...

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The DOL Conflicts of Interest Rule and How it May Affect You (Part 2)

June 24, 2016

Who is an ERISA Fiduciary?

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Enhancing Annual Reviews - Practical Considerations for Investment Advisers and Investment Companies

May 23, 2016

It’s been over a decade since the Securities and Exchange Commission (“SEC”) adopted Rule 206(4)-7 under the Investment Advisers Act of 1940, and Rule 38a-1 under the Investment Company Act of 1940. Despite the passage of time, Rule 206(4)-7 and 38a-1 (commonly referred to in the financial industry...

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The DOL Conflicts of Interest Rule and How it May Affect You (Part 1)

April 27, 2016

The final adopting release of the Department of Labor’s (“DOL”) Conflicts of Interest rule (the “Rule”),1 along with the separate releases of two new and four amended prohibited transaction exemptions (“PTE”) are now published in the Federal Register as of April 8, 2016. The main crux revolves...

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2016 Solutions for Compliance Professionals

March 24, 2016

In January, the Securities and Exchange Commission’s (“SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) issued their annual examination priorities update, which is focused on the highest perceived risks to investors and the U.S. capital markets for the coming year.1 These...

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EB-5 Programs – When is FINRA Registration Required?

February 18, 2016

The EB-5 Program began in 1990 and is administered by the United States Customs and Immigration Service (“USCIS”). An EB-5 Program provides foreign nationals who have the means to invest in certain job creating commercial enterprises in the US, with the ability to obtain an accelerated United...

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Form ADV - Disclosure Reminders and Beyond

January 20, 2016

It’s that time of year again where registered investment advisers with a fiscal year end of December 31st must file their annual amendments to Form ADV. Investment Advisers have 90 days after their fiscal year end to make the filing, which allow them time to review the current version and make both...

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The Human Element of Cybersecurity

December 18, 2015

Beginning in 2014, both the Securities Exchange Commission (“SEC”) and FINRA began to examine the heightened risk financial services firms face regarding unauthorized access to the electronic data that these firms routinely maintain as part of their businesses. As part of this initiative, the SEC...

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