2019 NASAA Annual Conference Highlights Investment Advisor Exam and Enforcement Activity

2019 marked the 100th year of state regulation of the securities industry.  Although this milestone was the focus of the 2019 NASAA Annual Conference last week in Austin, Texas, NASAA also released two reports on the results of coordinated examinations of state registered investment advisors and enforcement activity. According to the 2019 Investment Advisor Coordinated… READ MORE

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Compliance Procrastinators – With 2020 Compensation Planning Heating Up- Now is the Time to Make Sure Reg BI is Fully Understood

Reg BI has made some decisions very easy. The rule requires firms to “identify and eliminate sales contests, sales quotas, bonuses, and non-cash compensation that are based on the sale of specific securities or specific types of securities within a limited period of time.” With compensation planning for 2020 discussions typically heating up in the fall,… READ MORE

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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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