Recruiting has slowed down at the IBD, due to social distancing and remote working. But the firm has stepped up its virtual capabilities to continue attracting new advisors.
It was essential for state regulators to offer guidance for advisors working from home who may not be registered in their home state, according to the New Jersey Board of Securities bureau chief.
The advocacy group for broker/dealers says firms are finding it difficult to upgrade their compliance capability due to the tumult caused by the spread of COVID-19 and are asking for 'temporary regulatory relief.'
The new resource from PCS Retirement offers advisors ways to directly message plan participants or to send additional documents and resources through the portal.
Both comment letters criticized the SEC's proposal to change which investors can access private offerings, arguing there was a danger that retail investors could suffer heavy losses as a result.
The SEC had accused Christopher McClure, the owner of Westport Capital Markets, of enriching himself by investing client funds in risky securities with additional, undisclosed mark-ups and fees.
The SEC will give advisors an extra month to file their Form ADV, both parts 1 and 2, in light of the business disruptions caused by the coronavirus pandemic, and left open the possibility of further postponement.
