The Securities and Exchange Commission (“SEC”) has announced, under a new Share Class Selection Disclosure Initiative (“SCSD Initiative”), that it will not seek civil penalties against eligible investment advisers who
The US Securities and Exchange Commission (SEC) has issued an “Operations Plan Under a Lapse in Appropriations and Government Shutdown” (“Operations Plan”), which describes how the SEC will operate in
Near the end of September 2017, the Securities and Exchange Commission (“SEC” or the “Commission”) filed a complaint in the U.S. District Court for the Western District of New York,
IRA rollovers are generally an important component of many advisors’ business model. Now, could some of these rollovers be caught within the potentially confusing boundaries of the DOL Fiduciary Rule?
The Securities and Exchange Commission has ordered the dually registered Investment Adviser/Broker-dealer Cadaret, Grant & Co., Inc. to pay disgorgement, prejudgment interest, and civil penalties of more than 3 million
KMS Financial Services, Inc. is based in Washington and dually registered as a broker-dealer and investment adviser. The SEC found that in its capacity as registered investment adviser, the firm
Most individuals that have been in the financial services industry for any amount of time are aware that there is a requirement to register with a regulatory body in order
It’s that time of year again and FINRA has published its Exam Priorities Letter which highlights areas of significant focus in their audit program. These priorities represent FINRA’s assessment of
With industry groups failing to take the initiative in challenging the new Regulation Best Interest Advice (Reg BI), Michael Kitces and Alan Moore of XY Planning seek to take on…
As fiduciaries, Investment Advisers know they are ethically and legally obligated to place the interests of clients ahead of their own. Advisers also understand that the SEC provides oversight to…
One perk of being a smaller investment firm is not having to stress over the supervision of multiple registered investment adviser representatives (IARs). However, with growth comes increased responsibility, especially…
No broker-dealer or investment adviser enjoys spending money on compliance. Let’s face it; it’s an investment that normally doesn’t improve returns. Although a challenge for smaller firms with minimal compliance…
We have all done it at least once. Distracted by the game on TV or some urgent phone call, we forget our dinner baking in the oven. Hours later, we…
Capital One recently announced a Seattle-based hacker accessed the company’s servers and obtained personal information on millions of credit card holders and applicants. The hack is yet another example that…
The Certified Financial Planner Board of Standards Inc. approved a new code of ethics and standards of conduct in 2018. Enforcement of their “expanded fiduciary standard” for financial advisers and…
For all intent and purposes, the DOL Rule was an absolute mess; a thousand pages of convoluted lawyer language. I don’t know why, but at this point in my life…
With Hurricane Florence barreling down on the east coast, it would be prudent for investment advisers across the country to take a step back and reexamine the measures they have…
On June 4, 2019, the SEC issued a number of sweeping changes in the rules and regulations regarding the ways broker-dealers and investment advisers interact with their clients. In an…
In December 2018, the SEC issued its 2019 examination priorities for 2019. Due to the government shutdown from December 2018 through January 2019 the SEC was late getting started with…
For those who are not aware, as a registered broker dealer there is more than just the FINRA Rules with which you must remain in compliance. Most are aware, but…
