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.

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FINRA Report Suggests Growing Need for Enhanced Risk Management in Cybersecurity and Outside Business Activities

Firms that have seen the recently released 2021 Report on the Financial Industry Regulatory Authority’s (FINRA’s) Examination and Risk Monitoring Program (the “Report”) should be formulating plans to fortify their compliance programs based on the noteworthy findings shared from recent FINRA exams. The Report provides firms with valuable insight into 18 regulatory topics categorized by Firm Operations, Communications and Sales, Market Integrity, and Financial Management.

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What to Expect in 2021 from the SEC’s Division of Enforcement: Material Nonpublic Information

In today’s remote work environment, cybersecurity has become one of the Industry’s largest vulnerable components when servicing clients. As majority of the Industry has migrated to remote work and new communication technologies, this has forced more data and information to be susceptible to risk. In this blog post, we will discuss material nonpublic information and how we believe this will be an area of additional focus as the Industry gears up for 2021.

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A Forgettable Year for Small Business Ends with Memorable Changes to SEC Regs for Exempt Offerings

In general, small businesses tend to be more vulnerable in an economic downturn because they lack the financial cushion many larger companies have. Since the creation of the Federal Reserve System in 1913, large businesses have benefited from a more favorable regulatory framework and from liquidity backstops that the Fed has used to fortify weakness in financial markets.

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