2022 NSCP Virtual Educational Seminar – Navigating the Various Standards of Care/Conduct
2022 NSCP Virtual Educational Seminar | March 16, 2022 | Speakers: Michelle L. Jacko
IARs Have Two Years to Complete Continuing Education or Risk Securities License Termination
Maryland has joined Mississippi and Vermont on a growing list of state jurisdictions using January 1, 2022, as the effective date for new continuing education (CE) requirements. Within those states, Investment Adviser Representatives (IAR) must annually complete twelve (12) CE … Read More
Policies and Procedures: 125 Million New Reasons to Revisit Books-and-Records Obligations
Regulators have sent a chilling message to the securities industry by imposing record fines for widespread and longstanding failures against J.P. Morgan Securities LLC, a subsidiary of JP Morgan Chase & Co., a multinational investment bank and financial services company. The … Read More
8 Smart Compensation Practices for Wealth Management Firms
CEO Michelle Jacko was featured in a Barron’s Advisor article titled “8 Smart Compensation Practices for Wealth Management Firms,” on January 4, 2022. “People want to have more say in the direction of their career and in the direction of the … Read More
Regulatory Focus on the Accuracy and Adequacy of Advisory Fee Billing and Disclosures
On November 10, 2021 the SEC Division of Examinations (“Division”) issued a Risk Alert outlining deficiencies the Division found during their national exam initiative on advisory fees. The focus of this Risk Alert was supplementary to the Risk Alert on … Read More
SEC Sues Investment Advisory Firm for Failure to Disclose Conflicts of Interest in its Wrap Fee Program
If your firm offers a wrap fee program to clients or recommends that clients participate in a wrap program, now is an opportune time to review your fee disclosures and billing practices and best execution protocols. In July 2021, the U.S. … Read More
Senior Investor Protection Steps for Investment Advisers
The fiduciary standard of care required by investment advisers is well established and is a major component of every client relationship. Investment advisers are tasked with the financial health of their clients and safe keeping of nest eggs built over … Read More
A Reminder from the SEC Not to Use the Word “May” in Disclosures
A recent filing by the U.S. Securities and Exchange Commission (“SEC”) against a California-based advisory firm should serve as a cautionary tale for compliance officers. It provides keen insight into the SEC’s ongoing effort to seek enforcement action against firms … Read More
Episode 92: The Continued Regulatory Focus on Senior Investor Protections
On Episode 92 of the CCO Buzz podcast, we discuss Senior Investor Protections, which is a topic that should be assessed and evaluated annually.
Investment Adviser Year-End Compliance Checklist
At the beginning of 2021, the Securities and Exchange Commission (“SEC”) released its exam priorities report for the year.[1] In the release, the SEC stated the following: “The Division will continue to review the compliance programs of RIAs, including whether … Read More