With another year winding down, compliance personnel needs to begin evaluating the status of compliance projects and schedule any remaining tasks to ensure completion. Consideration of any regulatory changes, guidance, and risk alerts issued during the year, emerging best practices … Read More
Under Rule 206 (4) -7 all Registered Investment Advisers (“RIA’s) are required to have compliance Policies and Procedures, adequately designed to help them meet their regulatory requirements. A Firm’s obligations regarding their Policies and Procedures manuals do not end at … Read More
Firms registered with the Securities and Exchange Commission (“SEC”) are mandated by Rule 206(4)-7 (“Compliance Rule”) to perform an annual review of their policies and procedures, and a key component of a firm’s annual review should include cybersecurity testing. Cybersecurity … Read More
Planning for the Task As the summer solstice approaches, now is a good time for broker-dealer compliance personnel to begin planning for the annual compliance meetings (“ACMs”), required under FINRA Rule 3110(a)(7). Specifically, each registered representative and registered principal of … Read More
Every registered investment adviser and employee of the adviser have a fiduciary duty to put their clients’ interests ahead of their own. The Securities and Exchange Commission (“SEC”) has often emphasized that the key to a successful compliance program is … Read More
Every registered investment adviser has a fiduciary duty to seek best execution when placing transactions for clients. In addition to seeking best execution, the Securities and Exchange Commission (“SEC”) has issued a variety of guidance stating that advisory firms must … Read More
Most firms are actively engaged in reviewing their compliance programs during the first quarter of every year. Reflecting and evaluating your supervisory structure and internal controls, particularly in light of regulatory examination priority areas is essential. SEC Risk Alerts amplify … Read More
Now that we are in the first quarter of the new year, most registered investment advisers (“RIA” or “Firm”) are busy preparing their annual Form ADV amendment. This annual amendment is due within 90 days of the end of the … Read More
The administration of an advisory firm’s compliance program can be a daunting task for any Chief Compliance Officer (“CCO”), let alone an experienced one. Regardless of the number of employees at an investment advisory firm or a CCO’s experience, regulators … Read More
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 … Read More