The Division of Investment Management (DIM) of the U.S. Securities and Exchange Commission (SEC) recently issued three different clarifications that have an impact on whether a registered investment adviser (RIA) has custody of client assets under Rule 206(4)-2 of the Investment Advisers Act of 1940, commonly known…more
Today’s business leaders face many challenges and rapid changes with respect to information and cyber security. When one considers the wide range of vulnerabilities – ranging from threats, malicious intruders, and thieves to disgruntled employees and industrial espionage – managers and business owners need to make sure they have an information…more
Cybersecurity is an ever-present concern for business leaders with valuable data to protect and multiple potential entry points to secure against being infiltrated by hackers. The companies that are most prepared have upgraded their protections on hardware devices and infrastructure, as well as implemented protocols to safeguard their materials…more
Provision 0.A.9 of the GIPS Standards requires that firms make every reasonable effort to provide a compliant presentation to all prospective clients. A prospective client is defined as any person or entity that has expressed interest in one of the firm’s composite strategies and qualifies to invest…more
Customer service is key in driving the growth of business. In the highly-regulated broker-dealer industry, a focus on better customer service is often the distinction between competing firms.
The ongoing Fintech revolution in the financial services industry has opened up innovative options for representatives to be more accessible…more
Cyber security has been a buzzword in business for a number of years. It is especially buzzworthy in the investment industry, where investor protection is of paramount importance.
The New York Department of Financial Services (NYDFS) made recent headlines with its first-in-the-nation cyber security regulation, which went…more
On March 22, 2017, the Securities and Exchange Commission (SEC) adopted an amendment to shorten the standard settlement cycle by one business day. Before this amendment, the execution, confirmation, clearance, and settlement would need to be completed in a three day cycle (T+3). This amended rule will apply to…more
On August 25, 2016, the Securities and Exchange Commission (SEC) issued Release No. IA-4509 which adopted amendments that impact Form ADV requirements and various Investment Advisers Act rules. These amendments require additional, enhanced information relating to investment advisers’ separately managed accounts (SMAs), make clarifying and technical changes for other…more
On June 28, 2016, the Securities and Exchange Commission (SEC) proposed a rule that would require all SEC-registered investment advisers to adopt and implement written business continuity and transition plans to address operational risks related to significant disruptions.
The proposal seeks to address an investment adviser’s fundamental operational…more
The deadline for registering your firm’s GIPS compliance is fast approaching.
All firms claiming compliance with the Global Investment Performance Standards (GIPS®) are required to submit a GIPS Compliance Form to the CFA Institute as a notification of compliance. This is an annual filing requirement and firms have until…more