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The Securities and Exchange Commission (SEC) has proposed a new rule that would require registered investment advisers to adopt and implement written business continuity and transition plans. The goal of…
Earlier this year, FINRA issued a sweep letter, requesting information regarding member firms’ compliance culture. In the letter, FINRA explained that it launched a targeted examination in which it will…
We have recently received many inquiries as to how firms should approach the growing focus on Cybersecurity. Unfortunately, the answer often is the dreaded – It depends. Neither FINRA nor…
FINRA member broker-dealers and mutual fund/investment companies operate under extensive anti-money laundering (“AML”) rules and regulations. Although the regulations under which these firms operate can be quite burdensome, they are…
Many investment professionals, consultants, brokers, insurance agents and other advisers operate within compensation structures that are not aligned with their customers’ interests and often create strong incentives to steer customers…
On February 11, 2016, FINRA filed with the SEC a proposed rule change to require registration as Securities Traders of associated persons primarily responsible for the design, development or significant…
The Massachusetts Securities Division (the “Division”) recently published an interesting statement on Robo-advisers seeking state investment adviser registration in Massachusetts. Robo-advisers have flooded the market offering low-cost portfolio management through…
Earlier this month, DLA Piper released the results of the firm’s first annual compliance survey. The survey results demonstrate that CCOs are worried about personal liability and that companies are…
Many financial services professionals seem to forget that they have a fiduciary responsibility when it comes to the valuation of securities. Although it is acceptable for one to rely on…
Hedge funds are trendy, and therefore popular investment vehicles. Most hedge funds in the marketplace today are erroneously named and marketed. A hedge fund is a pooled investment where the…
FINRA has filed a proposed rule to require algorithmic trading developers to register as Securities Traders. The proposal would require individuals who design, develop or modify algorithmic trading strategies to…
Last month FINRA announced their exam priorities for 2016. One of the more notable priorities was that they would be looking at the firms’ commitment to a strong ethical culture. …
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