Regulation and Compliance issues for Wealth Professionals can be challenging to navigate especially when the SEC is involved. Catch the latest news and analysis on compliance updates that impact financial advisors.
Some advisors report that few clients have asked any questions resulting from the new disclosure document, leading them to wonder if they are reading it at all. 'I think people might just be a little bit numb to the amount of disclosures.'
In a conversation during Riskalyze Fearless Week, Docupace CEO David Knoch also spoke about the new DOL rule and the need for trackable documentation for firms' Form CRS.
The SEC release asked firms to keep an eye on business continuity, employee supervision and the protection of sensitive investor information during the pandemic.
FINRA, the SEC and the Commodity Futures Trading Commission fined Interactive Brokers for failing to properly support its own anti-money laundering program.
Lantern Investments Chief Compliance Officer Wendy Lanton will help represent small firms on the regulatory agency's board of governors, while Securities America's Jim Nagengast will continue to represent larger firms.
The SEC claims that Jack Brewer, a former investment advisor, sold shares of penny stock COPsync, a company he consulted for, knowing the stock price would fall.
The rush of comment letters comes on the final day of the comment period for the Labor Department's new proposal to replace the Obama administration's vacated fiduciary rule.
Beyond an attempt to reverse Reg BI, the industry could also see a number of securities regulation reforms if Joe Biden wins the presidential election.
