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
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
It is a familiar issue. Innovation moves at lightning speed while regulators try to apply existing rules to products and technology never contemplated when the rules were enacted. By the time regulators succeed, the goalposts have moved. It is a frustrating but necessary dance. The industry wants to innovate, and regulators want to protect. This… READ MORE
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
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
The Market Access Rule (Rule 15c3-5) remains on FINRA’s priority list – they have provided guidance on the rule and initiated enforcement actions against firms struggling to adhere to it. Oyster Consulting often works with clients after regulators have found issues with their Market Access program. It’s in your firm’s best interest to take a proactive look… READ MORE
Join Oyster Consulting’s Jeffrey Hiller in Episode 3 of his podcast mini-series, CCO – Behind the Scenes. This week, Jeffrey discusses personal compliance violations and what you should do. Being CCO is more than just checking boxes. Listen and learn in these short discussions as Jeffrey shares his real experiences and lessons learned. Some things you just… READ MORE