Category Archives: Standard of Care

What’s Next?: Regulatory Update for November 2019

Regulatory Updates from Cari Hopsfenperger at Hardin Compliance Consulting LLC.

Topics include:

Read the full update here.

 

Filing Deadlines and To-Do List for November 2019

Cari Hopfensperger from Hardin Compliance Consulting LLC shares these important deadlines and to-dos:

SEC Regulation Best Interest: Five concrete steps for compliance

On June 5, the U.S. Securities and Exchange Commission (SEC) approved its highly anticipated package of rulemakings and interpretive guidance relating to the standards of care applicable to financial professionals when making recommendations and providing investment advice to retail investors.

Included in this package was the SEC’s new Regulation Best Interest, which will likely require transformative changes for much of the retail brokerage industry.

With an effective date of June 30, 2020, what concrete steps should broker-dealers consider taking as they work toward compliance by the deadline?

Read more here.

The Top Ten Features to Look for in a Compliance Program Management System

For a compliance officer, finding the right software to manage the compliance program is tough.  The initial ask is to find an affordable system that can automate manual processes, allow collaboration and oversight between compliance staff and supervised persons, record compliance testing and monitor results, send reminders when deadlines are looming, and preserve the integrity of your records by incorporating an audit trail.  The system should be easy to use, administer and customize.

Current “software as a service” offerings provide affordable, customizable programs that can be used by all types of registered investment advisers, including private equity and hedge fund managers, retail advisers and institutional asset managers.

Read my top ten considerations in selecting a compliance program management system here.

Fee-Based Annuities Get a Boost, More Resources on Reg BI and Form CRS, States get Tough on Crypto Scams, SEC Speaks on Proxy Voting, Gets Tough to Protect Vulnerable Adults and Drops the Other Shoe on Revenue Sharing

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

Topics include:

Read the full post here