1. FINRA's Estimate Of Cost Of Establishing And Maintaining An SRO For RIAs Challenged By Coalition Representing RIAs
(Matching tags: RIA compliance,RIAs,broker-dealers,registered investment advisors,compliance,CFP Board,NAPFA,Congress,Dodd-Frank,TD Ameritrade)

The Financial Industry Regulatory Authority's (FINRA) estimate of the cost to setup, operate and oversee a self-regulatory organization (SRO) for investment advisers (IA) underestimates overhead costs ...

2. If You Get A Letter Of Inquiry From FINRA, The Best Action Is To Answer It
(Matching tags: compliance,FINRA,sec)

FINRA plays a significant role in alerting the SEC to insider trading infractions. As an industry watchdog, the regulatory group gathers information on firms even beyond their broker-dealer scope to ...

3. CFA Institute Creates List Of Integrity Standards On 50th Anniversary Of Its Code Of Conduct
(Matching tags: integrity,compliance,fiduciaries)

The CFA Institute is raising its standards in light of the lack of trust investors have in our industry as a result of the financial crisis. At its upcoming conference in Chicago, the Institute will unveil ...

4. Erado, An Advisor Products Compliance Partner, Named To Gartner’s “Cool Vendor” List
(Matching tags: technology,security,RIA compliance,RIAs,privacy; security,compliance,Social Media)

... compliance solution, sent me a copy of Gartner’s research naming his company a “cool vendor” today, I was thrilled.   Erado was on my radar screen for the last few years but ...

5. Considering Moving To The Cloud? You'll Get Practical Tips From Today's Webinar Session And Maybe Some Controversy
(Matching tags: technology,microsoft,RIA compliance,document management system,privacy; security,compliance,Operating Systems,business planning)

Chris Winn, CEO of AdvisorAssist, and Craig Brauff, CEO of Erado Message Control Systems, are two of the best experts I know on compliance technology systems. So I was surprised yesterday to hear their ...

6. New Bill Will Propose FINRA As Industry SRO
(Matching tags: compliance,regulation,FINRA)

A Republican bill that would make FINRA the regulatory body for investment advisors may soon come on the floor. Republican Spencer Bachus is drafting the legislation and is expected to introduce it to ...

7. Deadline For Switch To State Regulation Is Extended
(Matching tags: compliance,RIA compliance,regulation)

RIA firms needing to change from SEC oversight to a new program offered by the North American Securities Administrators Association (NASAA) have another month to do so. The initial deadline for selecting ...

8. New Survey Says Dodd-Frank Will Help Restore Client Trust
(Matching tags: client satisfaction,compliance,Dodd-Frank,regulation)

A new survey shows financial industry executives think that the new Dodd-Frank regulations will help restore investor trust. Reputations in the industry were harmed by the 2008 credit crisis as investors ...

9. AARP Joins Fiduciary Debate Alongside CFP Board, Financial Planning Association, And Other Consumer And Professonal Associations To Oppose Broker/Dealers And SIFMA
(Matching tags: investment fiduciaries,competitors,RIAs,broker-dealers,independent broker-dealers,compliance,CFP Board,Dodd-Frank,fiduciaries,FINRA,sec,SIFMA)

After years of positioning, the debate over establishing a single fiduciary standard for FINRA-licensed registered representatives and investment advisor representatives alike is finally coming down to ...

10. Clients Need Greater Disclosure And Clear Language In Choosing Advisors
(Matching tags: CFP Board,compliance,fiduciaries,sec)

The Certified Financial Planner (CFP®) Board is becoming more proactive in its recommendations to the SEC. Its latest letter says that clients need more information about advisors to be able to choose ...

11. Fiduciary Capacity Isn't A Term That Only Applies To You; It May Also Apply To Your Clients
(Matching tags: regulation,compliance,Dodd-Frank,fiduciaries,FINRA)

Many of your clients are acting in a fiduciary manner and may not even know it, says Don Trone, who created the Global Fiduciary Strategist (GFS) standard. Trone offers practical advice as your clients ...

12. Cottage Industry Springs Up Around Compliance In Use Of Social Media
(Matching tags: marketing,compliance,advisor industry people,Social Media)

  The entrance of social media outlets like Twitter, LinkedIn, and Facebook have posed a challenge to industry firms. How can they take advantage of these huge new marketing and community building ...

13. Five Compliance Areas To Focus On For In 2012
(Matching tags: FINRA,compliance,regulation)

... compliance efforts. There are five key areas identified by the law firm Sutherland Asbill & Brennan that are responsible for most breaches.   ·         ...

14. Shoot The Fiduciary Messenger? Or Use The Debate To Spark Propitious Thinking...
(Matching tags: investment fiduciaries,compliance,Congress,Dodd-Frank,fiduciaries)

The fiduciary debate is reopening a deep schism that has divided independent financial advisors for decades. Rather than fuel the controversy, the purpose of this post is to open an ongoing professional ...

15. Researching The Advisor Tied To The Soccer Mom Who Allegedly Ran A Prostitution Ring Shows Why FINRA BrokerCheck Stinks And Why SEC And FINRA Are Not Trusted
(Matching tags: regulation,compliance,Dodd-Frank,FINRA,sec)

FINRA BrokerCheck is asking for comments on how to improve disclosures about licensed securities salespeople—brokers. But it’s hard to take FINRA’s request seriously because FINRA’s ...

16. Murder, Ponzi Schemes, And Lack Of Regulatory Effectiveness Point To Need For Investor Education
(Matching tags: differentiation,client education,client loyalty,compliance,client communications,Dodd-Frank)

  By the Tuesday March 6 sunset, Allen Stanford was transformed from an accused person to a convicted criminal. He had created a $7 billion Ponzi scheme touting ‘safe’ certificates of ...

17. A Financially Literate Society Could Be A Boon To Advisors
(Matching tags: client education,compliance,Dodd-Frank,regulation)

One of the hallmarks of the Dodd-Frank legislation is its new definitions of terms. For example, the definition of a family office and also of a family member has much more specificity than before. Financial ...

18. Compliance Officers' Supervisory Role Remains Nebulous At The SEC
(Matching tags: compliance)

After a recent case where a compliance officer was charged -- but not fined -- for failing to fire a broker who broke the rules, the SEC is trying to nail down exactly what the role entails.  ...

19. FINRA Requests Comment On Ways To Increase Investor Use Of BrokerCheck: My Suggestion Is To Consolidate Advisor Licensing Databases And Open It To Search Engines
(Matching tags: RIAs,SRO,investment advisors,broker-dealers,compliance,Dodd-Frank,FINRA,sec)

FINRA is requesting comment on ways to boost investor use of BrokerCheck, the self-regulatory agency’s website where consumers can find a broker’s disciplinary and employment history.   ...

20. SEC Targeting Compliance Officers Directly To Get Results
(Matching tags: compliance)

The regulators are cracking down on the people inside advisory firms responsible for enforcing policy: the compliance officers themselves.  ...