Posts in Investment Advisers.
Protecting Your Firm Through Risk Management

You have successfully formed your investment advisory firm and your business is up and running. Now you want to ensure that your firm remains in compliance with the SEC, FINRA and state regulators so that, in the event a regulatory agency DOES come knocking, you are ready to handle the examination.

Compliance Steps Fiduciaries Should Take Now to Help Ensure Continued Adherence with the DOL’s New ERISA Exemption

Professionals who work with “Plans”, as defined under the Employment Retirement Income Security Act of 1974 (ERISA), and for those that recommend certain investments to individual retirement accounts (“IRA”), such individuals must be mindful to update their firm’s policies and procedures now that the U.S. Department of Labor (DOL) is proceeding with the adoption of a fiduciary exemption that can impose restrictions upon and prevent fiduciaries from engaging in certain activities.

What Investment Advisers Must do to Qualify for the DOL’s Prohibited Transaction Exemption for IRA Rollovers

In early 2021, a prohibited transaction exemption (“PTE”) issued by the Department of Labor (“DOL”) took effect that allows qualifying investment advisers to receive conflicted compensation resulting from nondiscretionary fiduciary investment advice.

Investors, Advisers Must be Mindful to Comply with New U.S. Ban on Estimated $1 Trillion of Chinese Securities

Financial advisers and broker-dealers should conduct thorough and frequent reviews of their clients’ holdings in certain Chinese companies now that a November Executive Order that prohibits new U.S. investments in companies with alleged ties to China’s military has taken effect.

Remaining Vigilant Against Investment Fraud During the COVID-19 Pandemic

Stress created by high jobless rates. Acrimonious political debate over acceptable levels of federal assistance. Rampant fear and uncertainty while awaiting the arrival of an effective coronavirus vaccine.

Three Things You Need to Know When Forming an RIA

The formation of a registered investment adviser (“RIA”) can be both an exciting and daunting process. On the one hand, the opportunity for financial professionals to achieve independence and the prospect of increased revenues as an independent RIA is an attractive possibility.

SEC Releases Proposed Changes to Form 13F Report Requirements

On July 10, 2020, the U.S. Securities and Exchange Commission (“SEC”) released proposed changes to the rule requiring institutional managers to file Form 13F reports.

The changes include raising the reporting threshold from $100 million to $3.5 billion and eliminating the exclusion of smaller positions from the Form 13F report.

SEC Releases Last-Minute Updates to Form CRS FAQs

On Friday, June 26, the U.S. Securities and Exchange Commission (“SEC”) released updated responses to FAQs regarding Form CRS. Notwithstanding the timing of the updated FAQs, the additional guidance offers supplementary and expanded information regarding the SEC’s stance on important considerations for the Form CRS including:

Top 3 Considerations During the Breakaway & Transition Process

In recent years, there has been a considerable increase in the number of financial advisors who are looking to break-away and transition to careers with registered investment advisory firms (“RIAs”) or even launching their own RIA seeking more independence, control, growth opportunities, and increased compensation.

SEC Charges Morgan Stanley Smith Barney with Providing Misleading Information to Retail Clients

On May 12, 2020, the Securities and Exchange Commission (“SEC”) announced that Morgan Stanley Smith Barney (“MSSB”) agreed to settle charges that it provided misleading information regarding transaction costs and services to retail clients in its wrap program for the period from 2012 to 2017.

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