For years, FINRA has been encouraging its members to take a risk-based approach to exams and compliance. This year, FINRA has released a new, consolidated annual report to help firms improve their risk and compliance programs. Yes, this report is longer than previous exam priorities letters, and yes it has a different format, but there… READ MORE
The Securities and Exchange Commission released its final version of the modernized Marketing Rule under the Investment Advisors Act on December 22, 2020.
NASAA published two model rules in November 2020 related to continuing education requirements and written policies and procedures. While each state determines whether to adopt model rules, you should familiarize yourself with the requirements, not just so you can comply, but because some of the requirements are just good business practices. Get ready for more… READ MORE
For most of us, 2020 did not turn out exactly as planned, but it did create challenges and opportunities that will likely have an impact on how business operates for years to come. In times of rapid change, it is important to that your organization changes together. This year, CCOs need to be extra diligent… READ MORE
Remote work is the current normal. Since March, Oyster has led conversions for clients without ever being onsite, started new businesses with client’s we’ve never met in person, and completed virtual exams. For years, some or all our testing has been conducted remotely depending on the client’s needs. For the last four months, all of… READ MORE
Reg BI Update – SEC Warns that “firms should continue to make good faith efforts around operational matters to ensure compliance by June 30, 2020” With so many firms changing how they serve their retail clients during the COVID-19 outbreak, the SEC issued a Public Statement on April 2nd related to Regulation Best Interest… READ MORE
The SEC provided an exemptive order this week in response to the COVID-19 event. In limited circumstances, Investment Advisors and Exempt Reporting Advisors will have an additional 45 days from the original deadline to complete and submit their annual filings or material changes. Procrastinators need to understand that there are specific circumstances requirements to meet… READ MORE