Regulatory Updates from Jaqueline Hummel at Hardin Compliance Consulting LLC.

Topics include:

• Reg S-P Compliance Violations Spelled out by SEC
• Heads Up! Massachusetts Amended the Data Breach Notification Law
• Ohio Requires Registered Reps and Investment Adviser Reps to Report Elder Abuse
• SEC Issues Digital Asset Analysis and No-Action Letter
• FINRA Issues Guidance for Communications with Customers Regarding Departing Representatives
• Attention Underwriting Syndicate Members who enter into Backstop Agreements
• FINRA Will Permit the Use of Electronic Signatures for Discretionary Accounts
• SEC Issues Guidance on Mutual Fund Reporting Requirements
• Liquidity Risk Management FAQs Updated
• NFA updated its Self Examination Questionnaire to assist firms in preparing for 2-9
• Ever Wonder What Happens if Your Firm Blows the Private Offering Exemption?
• Google Searches and Phone Calls Don’t Count as Extensive Due Diligence
• When Absolute Power Corrupts Absolutely
• FINRA Gives Broker-Dealer an “F” in Email Review

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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

Regulatory Updates from Jaqueline Hummel at Hardin Compliance Consulting LLC.

Topics include:

• Mr. Blue Skies:  A Primer on Form D and Blue Sky filings
• Speak Now or Forever Hold Your Peace — SEC Asks for Help on the Custody Rule
• Keeping up with  FINRA’s 529 Plan Share Class Initiative
• Registration Required If Your Firm Handles Orders in NMS Stocks, OTC Equity Securities, or Listed Options:  Rule 613
• Attention FINOPs – How To Report Operating Leases on FOCUS Filings
• Does Your Firm Publish Quotations in Unregistered Securities of Foreign Private Issuers?
• Modifications to Form N-PORT
• No Action Letter to the Independent Directors Council relaxes certain in-person voting requirements for fund boards
• MSRB Announces Effective Date for Amended Advertising Rules
• NFA to Require Swap Proficiency Testing
• Advisor Slammed for Charging Some Clients More for Same Services
• SEC Share Class Initiative Returning More Than $125 Million to Investors

• Stupid is as Stupid Does

  Read the full update here

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

Topics include:

• OCIE Announces 2019 Examination Priorities
• Regulatory Review 2018
• 11 Key Takeaways for Updating your Compliance Program in 2019
• Investment Advisers Compliance to Do List for 2019
• FINRA Provides Additional Guidance to Enhance your Cybersecurity Program
• Broker-Dealer Compliance to Do List for 2019
• Broker-Dealer 2018 Regulatory Year in Review
• Broker-Dealers! Be Sure to Whitelist noreply@finra.org
• 2019 Annual Entitlement User Accounts Certification Process
• FINRA 2019 Annual Risk Monitoring and Examination Priorities Letter FINRA
• NFA Members Need to Update Cybersecurity Programs
• CPOs required to Implement Internal Controls
• SEC Cries Foul for Failure to Disclose Private Equity Fund Expense Allocation Practices
• Plus Ça Change, Plus C’est La Même Chose: Robo-Advisers and Advertising Issues
• 12b-1 Enforcement Continues

Read the full post here