Category Archives: Compliance

Compliance, Regulatory

Déjà Vu All Over Again – FINRA Revisits Mutual Fund Sales Charge Waivers

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The Financial Industry Regulatory Authority is once again taking a close look at member firm mutual fund sales practices and sales charge waivers (Mutual Fund Waiver Sweep) in the U.S. FINRA’s target exam letter seeks information about mutual fund sales to retirement plans and charitable accounts, as well as the sales charge waivers that mutual funds make available to eligible purchasers. FINRA’s Mutual Fund Waiver Sweep covers the period from January 1, 2011 through December 31, 2015 and, as drafted, seeks responses from FINRA member firms by June 10, 2016.

Read more here:Déjà Vu All Over Again – FINRA Takes Another Look at Mutual Fund Sales Charge Waivers

Compliance, Enforcement

OCIE 2016 Exam Priorities: Retail Investors, Market-wide Risks and Data Analytics

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The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) on January 11, 2016 announced its examination priorities for this year, which “address issues across a variety of financial institutions, including investment advisers, investment companies, broker-dealers, transfer agents, [and] clearing agencies.” The priorities, as in 2015, focus on the following: protecting retail investors and investors saving for retirement; assessing market-wide risks; and using data analytics to identify elevated risk profiles and signal potential illegal activity.

In a separate letter, OCIE identified its priorities for the national securities exchanges.

Read more here: SEC 2016 Examination Priorities Focus on Retail Investors, Market-wide Risks and Data Analytics