Category Archives: Enforcement

Understanding fiduciary investment advice regulations

By all accounts, 2019 will see the advancement of a number of fiduciary and best interest investment advice regulations at both the federal and state levels. Firms subject to these regulations will face challenges in dealing with rules that will impose a host of new obligations, and that may overlap and conflict with one another. Eversheds Sutherland has developed a chart that is intended to help firms take stock of the evolving framework and aid firms in putting the pieces together.

Find the chart here

SEC Asks for Help Understanding Digital Assets and Custody Rule, FINRA Issues FAQs on 529 Self-Reporting Request, and New Testing for Swap Traders

Regulatory Updates from Jaqueline Hummel at Hardin Compliance Consulting LLC.

Topics include:

OCIE and FINRA Set Exam Priorities, FINRA Issues Cybersecurity Tips, and SEC Finds More Undisclosed Conflicts

February Regulatory Updates from Jaqueline Hummel at Hardin Compliance Consulting LLC.

Topics include:

Read the full post here

Write the Best Annual Compliance Program Review EVER!

Many chief compliance officers struggle every year with preparing the annual review and, based on the OCIE’s summary of the most frequently identified exam deficiencies; some are not up to the task.  To help you out, Jaqueline Hummel and Hardin Compliance Consulting LLC suggest the following:

The review should answer these questions:

  • Were recommendations from the prior year’s annual review implemented?
  • Were the firm’s compliance policies and procedures adequate and followed consistently?
  • Are there any operational or compliance risks or weaknesses that need to be addressed?
  • Should any changes be made to the firm’s policies and procedures?

Here’s a basic outline for the report:

  1. Background
  2. Overview of the review process
  3. Identify the Principal Risks addressed through Compliance Policies and Procedures
  4. Business, Industry and Regulatory Developments
  5. Evaluation of the Adequacy and Effectiveness of Compliance Policies and Procedures, and Recommendations

Read her full post here

Investment Adviser Regulatory Review 2018

The SEC’s regulatory actions in 2018 involved few surprises but still managed to challenge investment advisers. In reviewing the SEC’s activity over the past 12 months, Jaqueline Hummel at Hardin Compliance Consulting LLC has identified the top regulatory hot buttons to help firms focus their efforts to update their compliance programs for 2019.

Read her full post here.