Early CAT Reporting Struggles Lead to Improved Error Rates

Compliance for the Firm-to-Firm/Exchange/TRF linkage implementation phase of Consolidated Audit Trail (CAT) reporting came into effect October 26, 2020.  In the weeks leading up to this there were significant concerns around how the industry would be able to bring error rates down to an acceptable level after the initial rejections rate, in some cases, soared… READ MORE

New Podcast Mini-Series! Regulators – Behind the Scenes

This week we are launching our new Oyster Stew podcast mini-series, Regulators – Behind the Scenes.  Join former regulators Patrick M. Dennis, Jeffrey Hiller, Bill Reilly, Evan Rosser and Ed Wegener  as they share their experiences and perspectives as former state and federal regulators around regulatory exams and issues.  Some things you just won’t learn from a textbook, like managing your relationship with… READ MORE

Oyster Consulting Expands Midwest Presence

Industry Veterans Anderson, Roth and Wegener Bolster Consulting Firm Oyster welcomes Steve Anderson to the firm, adding depth to its mid-west presence.  Steve joins other recent mid-western hires Jim Roth and Ed Wegener, as well as Mary Jane Phillips, who joined the firm in 2018.  With over 25 years in the financial services industry, Steve’s… READ MORE

State Regulatory Actions Increase 33% – NASAA 2020 Enforcement Report

The NASAA 2020 Enforcement Report, based on 2019 activity, summarizes enforcement activity reported by the 51 U.S. member jurisdictions. Enforcement actions against firms and individuals in 2019 totaled 2,755 actions, up 33% from 2018. Overall enforcement activities included: 6,698 Complaints Received 6,525 Investigations Initiated 2,755 Enforcement Actions (Including criminal, administrative and civil enforcement actions) 5,898… READ MORE

NASAA 2020 Annual Conference Discusses Regulatory Initiatives

The 2020 NASAA Annual Conference was held in a virtual format in early September 2020. Items of note discussed during the conference included Regulation BI, an update on the effects of increased social isolation on senior and vulnerable adult clients during the Coronavirus Pandemic, investment advisor model rules, and the creation of a new interface… READ MORE