Congress Introduces Bill for SEC Fees on Investment Advisers
A bill for the Securities and Exchange Commission (SEC) to allow the Commission to collect fees from investment advisers for funding of examinations has been recently re-introduced in Congress by Representatives Maxine Waters of California and John Delaney of Maryland. … Read More
Steps To Consider in Preparing For a 2013 SEC Exam
The recent SEC release of exam priorities serves as a helpful reminder that broker-dealer (BD) and investment advisory (IA) firms should ensure they are prepared when the SEC comes knocking. Below are some steps that you may want to consider in … Read More
SEC and The Use of Social Media
The use of social media has become a very convenient and economical way for companies and individuals to share and broadcast information. However, this avenue of advertising and communication has attracted the attention of both federal and state regulators. Last … Read More
The Importance of An Adviser’s Annual Review
Mar./Apr. 2013
The Importance of Effectively Monitoring Gifts & Entertainment – Part 3: Pay-To-Play
Another rule that firms must be mindful of in monitoring is the SEC’s, Pay-to-Play Rule. The Rule is designed to prevent investment advisers (IAs) from obtaining governmental business, through direct or indirect campaign contributions made by certain high-level employees to … Read More
The Importance of Effectively Monitoring Gifts and Entertainment – Part 1: ERISA
Gifts and entertainment can establish goodwill between securities professionals and their clients. However, some gifts and entertainment benefits can be too frequent or so excessive as to give rise to an appearance of improper influence. To prevent improprieties, governmental agencies … Read More
FINRA Drops Bid to be SRO for Registered Investment Advisors, For Now
Over the last couple of years, FINRA has spent nearly $5 million lobbying to become the primary regulator for registered investment advisers (“RIA”). However, Richard G. Ketchum chief executive of FINRA has stated that FINRA will no longer aggressively seek … Read More
FINRA Issues Exam Priorities for 2013
On January 11, 2013, the Financial Industry Regulatory Authority (FINRA) released its exam priorities list that it will focus on during its routine examinations this year. As investors continue to seek attractive returns, FINRA highlighted its intent to focus on … Read More