1. Does The Revelation Of Fees Paid To Advisors From Schwab And Fidelity Taint The Perception That RIAs, As Fiduciaries, Are Above Conflicts?
(Matching tags: RIAs,compliance)

Cerulli Associates posted an article today that is sure to enrage some RIAs. It's pretty brave and honest and deserves attention. 

2. Securities Lawyers Investigate Losses In UBS Willow Fund
(Matching tags: fraud,compliance)

Securities attorneys at Klayman & Toskes say they are investigating claims of UBS Financial Services customers who purchased the UBS Willow Fund, a private hedge fund formed in 2000. In October of ...

3. In A Show Of How The SEC Is Tightening RIA Compliance, A Chicago Advisor Is Barred From Securities Business
(Matching tags: compliance,RIA compliance,sec)

RIAs better be accurate in disclosing how much money they manage. The Securities & Exchange Commission suddenly seems interested in such disclosures. Umesh Tandon, 37, owner and chief compliance ...

4. Identity Theft Rule Adopted By SEC; Provides New Guidance And Red Flags About How BDs and RIAs Must Protect Clients
(Matching tags: sec,identity theft,compliance)

The Securities and Exchange Commission yesterday adopted rules requiring broker-dealers, mutual funds, investment advisers, and certain other entities regulated by the agency to adopt programs to detect ...

5. Accused By State Securities Regulators Of Falesly Advertising He Acted As A Fiduciary, Illinois Advisor Says He’s Done Nothing Wrong
(Matching tags: Advisor businesses,marketing,compliance,fiduciaries)

In a case that could have wide repercussions for financial advisors and consumers, the State of Illinois last week filed civil charges against a financial advisor that essentially alleges he advertised ...

6. SEC Wants Data And Comments About Harmonization Of The Rules Governing The Way RIAs Deliver Advice Versus Broker-Dealers
(Matching tags: broker-dealers,FINRA,investment advisors,RIAs,compliance)

The SEC s asking for hard data and other information from about the benefits and costs of the current standards of conduct for broker-dealers and investment advisers when providing advice to retail customers, ...

7. SEC Staff Says It Will Make Conflicts Of Interest Of Dually-Registered RIAs An Areas Of Focus Of RIA Examinations In 2013
(Matching tags: compliance,sec,RIA compliance)

  The Securities and Exchange Commission is focusing inspections of RIAs on conflicts of interest that rise from being dually registered with a broker-dealer as well as an RIA. The agency says its ...

8. Give States Oversight And Examination Authority Over RIAs Managing $1 Billion Or Less To Solve The RIA Regulatory Mess
(Matching tags: RIA compliance,RIAs,compliance,Dodd-Frank)

The number of RIAs regulated by the Securities and Exchange Commission has surged, and the amount of money managed by newly-regulated RIAs has exploded. While the Financial Planning Coalition, Investment ...

9. SEC Chief, Testifying Before Senate, Says Dodd-Frank Replaced 2,250 RIAs And $115 Billion AUM With 1,500 New RIAs Managing $3 Trillion
(Matching tags: RIAs,compliance,Dodd-Frank)

SEC Chair Elisse Walter, in testimony prepared for the Senate today, does not have much new to say about a regulatory solution for RIAs, which was mandated when the Dodd-Frank Act was passed in July 2010. ...

10. Massachusetts Calls On SEC To Prohibit RIAs From Using Mandatory Arbitration Clauses, Saying It Is "Troubling," Widespread And Not Consistent With Fiduciary Practice
(Matching tags: RIA compliance,RIAs,compliance,Dodd-Frank,fiduciaries,sec)

The Secretary of the Commonwealth of Massachusetts, in a public letter, is calling on the U.S. Securities and Exchange Commission to prohibit Registered Investment Advisers from inserting mandatory arbitration ...

11. Twitter Has Started Rolling Out The Option To Download All Your Tweets
(Matching tags: Social Media,RIA compliance,compliance)

In a move that could put an end to the growing number Twitter archive apps, Twitter is reportedly beginning to roll out its own app for downloading a history of all your tweets in a compressed file.

12. Social Media Compliance Imbroglio At Netflix Illustrates Risk Securities Firms And Professionals Face From Unregulated Use Of Twitter, Facebook, And LinkedIn
(Matching tags: broker-dealers,client communications,compliance,FINRA,investment advisors,RIA compliance,Social Media)

Thanks to a seemingly innocuous Facebook posting by its Chief Executive Officer, Netflix is facing the prospect of the Securities and Exchange Commission bringing a civil action against the company and ...

13. Appointment Of Elisse Walter As SEC Chair-Designate Makes FINRA More Likely To Be Named Self-Regulatory Organization Overseeing RIAs
(Matching tags: RIA Registration,RIA compliance,regulation,compliance,FINRA)

President Barack Obama on Monday did not name Elisse Walter chairman-designate of the SEC becauseshe prefers RIAs be inspected and overseen by a self-regulatory organization.    Regulation ...

14. Does CFP Board’s Suggested Disclosure For Form ADV Mislead Consumers About Whether Their Advisor Is A Fiduciary?
(Matching tags: dually registered,RIA compliance,RIAs,financial planning,compliance,CFP Board,fiduciaries)

CFP Board of Standards provides sample language for RIAs to use in Part 2 of their Form ADV that could easily mislead most consumers about a practitioner’s fiduciary obligation. The problem ...

15. Another Advisor Claiming To Be A Fiduciary Accused Of Defrauding Investors
(Matching tags: RIA compliance,fraud,compliance,fiduciaries,sec)

Another RIA and its owner that were recently charged by the Securities and Exchange Commission with running a Ponzi scheme made the fiduciary obligation to clients the central focus of its marketing.

16. ECB Seeks Loosening Of Strict Basel III Reserve Requirements For Banks To Ease Its Ability To Aid Distressed Eurozone Countries
(Matching tags: banks,compliance,European zone,U.S. economy)

The European Central Bank is pushing for easier requirements in the Basel III liquidity reserves mandate so that certain mortgage-backed securities and business loans may qualify in lieu of the ...

17. Search Engine And Ethical Considerations When Using Other People's Articles To Write Blog Posts
(Matching tags: client communications,Search Engines,compliance,intellectual property,marketing,integrity)

Advisor Products creates great financial articles for advisor clients and prospects. Should you copy and paste some of those articles and use them as blog posts? Here are some issues advisors need to ...

18. The Sad Irony Of Ron Rhoades’ Resignation As NAPFA’s Chairman-Elect; Brought Low For Making A Careless Mistake, He’s Paying For The Sins Of Others
(Matching tags: compliance,NAPFA,fiduciaries)

I don’t know Ron Rhoades but my heart goes out to him. He was forced to resign as NAPFA’s chairman-elect earlier this week because of a careless compliance mistake. He’s been publicly ...

19. Rhoades Steps Down As Chair-Elect Of NAPFA Over Registration Errors; Advisors Say Compliance Violations Are Easy To Make; Need To Outsource Compliance Is Increasing
(Matching tags: Rhoades,compliance,sec,NAPFA)

There but for the grace of God go I. That, in essence, is how advisors are reacting to the news that Dr. Ron Rhoades, JD, CFP on Monday stepped down as chair-elect of the National Association of Personal ...

20. How RIAemail’s Automatic Email Encryption Works
(Matching tags: RIA compliance,RIAs,privacy; security,compliance,client communications)

Some states, including Massachusetts and Nevada, have passed legislation requiring RIAs to encrypt personally identifiable information (PII) sent in emails, and it is good practice for RIAs to proactively ...