Avoid Broker-Dealer Consolidated Report Enforcement Actions

Are Your Internal Controls, Written Procedures and Supervisory Reviews Enough? If you have reviewed the enforcement actions filed by FINRA related to the use of consolidated reports by broker-dealers, you are probably wondering if you are doing enough to protect your firm.  Here is what you need to know to help make that determination. Consolidated… READ MORE

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Former Tradeweb Direct Head of Markets Joins Oyster Consulting

Financial Services consulting firm responds to demand for expertise in Capital Markets, Electronic Fixed Income Trading and Transition Management Michael Segal joins the Oyster Consulting as a Managing Director, expanding Oyster’s ability to provide consistent, high-quality services in trading operations, infrastructure and technology platforms. Michael has a proven track record of successfully establishing and expanding… READ MORE

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SEC Adopts Reg BI

The SEC Adopts Regulation Best Interest (Reg BI) and Additional Rules and Interpretations that Address Relationships Between Retail Investors and Investment Professionals Regulation Best Interest On June 5, 2019, the SEC adopted a new rule, referred to as Regulation Best Interest (“Reg BI”), that establishes an express best interest obligation applicable to broker-dealers (“BDs”) when… READ MORE

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Reg BI Coming Soon, FINRA Annual Conference Speakers Suggest

Conference panel speakers at the FINRA Annual Conference suggested that the final rule on Regulation Best Interest, or “Reg BI,” may be adopted as early as the week of June 3rd, 2019 (the vote has been scheduled for June 5, 2019). Comments by regulators and others on the panel discussing FINRA’s suitability rule 2111 and… READ MORE

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Former Chicago Stock Exchange Sales-Marketing Director Joins Oyster Consulting

  Oyster Consulting announced today that Mark O’Connor joins the firm as a Relationship Manager, expanding Oyster’s ability to provide consistent, high-quality compliance, outsourcing and software services to financial services industry clients. Mark O’Connor has over 30 years of experience in the financial services industry, with an extensive track record of managing all aspects of… READ MORE

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Managing the Clearing Platform Transition Process

Transitioning your platform can be a vital component of making sure your firm is successful for many years to come. Managing your firm’s platform transition is a significant undertaking that will impact most areas of your business. Consistency of communication with your leadership, employees and vendors is just one part of a very complex process…. READ MORE

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FINRA Seeks Feedback on Business Continuity Plans

FINRA is currently seeking feedback on its Business Continuity Rule, including if firms have activated their business continuity plans and whether the costs of creating, maintaining or updating such a plan outweigh the benefits.  Feedback is due April 26, 2019. What makes an effective Business Continuity Plan? An effective plan can create loyal customers by… READ MORE

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