Failure to disclose conflicts of interest. Making misleading statements. Creating positive incentives and negative pressures for its sales force. Failure to adopt and implement written policies and procedures.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has directed the Commission to consider whether it should revisit 2019 guidance and 2020 rule amendments regarding proxy voting advice[1]. In a related move, the SEC has suspended enforcement of rules … Read More
On Episode 86 of the CCO Buzz, Managing Director of Consultation Services, Tina Mitchell joins us to discuss the new ERISA exemption for financial professionals.
Often, when broker-dealers and investment advisory firms are sanctioned by the regulators, the question on everyone’s mind is: where was compliance? While most firms are required to have a designated Chief Compliance Officer (“CCO”), few have more than one compliance … Read More
Firms should take note that information security will remain an area of intense focus this year for the U.S. Securities and Exchange Commission’s (SEC) Division of Examinations (the Division or EXAMS), formerly known as the Office of Compliance Inspections and … Read More
As the new year begins, there is a great opportunity to enhance your firm’s compliance program and start the year off on a positive note. In this Risk Management Update, we will discuss several recommendations and best practices to consider … Read More
The North American Securities Administration Association (NASAA) is a voluntary body composed of state securities regulators across all 50 states, Canada, and Mexico. Founded in 1919, it is the oldest international regulatory organization devoted to investor protection. Many in the … Read More
On episode 80 of the CCO Buzz, Core Compliance discuss vital considerations for conducting an Annual Review.
To help strengthen the state’s consumer protection laws and oversight of the financial industry, California has passed legislation that has changed the name of the Department of Business Oversight (DBO) to the Department of Financial Protection and Innovation (DFPI) and … Read More
On August 31, 2020, the U.S. Department of Labor (DOL) released a proposal under the Employee Retirement Income Security Act of 1974 (ERISA) to amend fiduciary duties regarding proxy voting and shareholder rights. This particular rule is only in the … Read More