Protect Your Profits through Compliance, Communication and Education

When it comes to compliance, your revenue stream is only as strong as your regulatory and client relationships.  Making a million in revenue means very little if you pay a $500,000 fine.  How do you protect that revenue? Compliance: Follow the rules and regulations and watch closely to ensure your employees do the same. A… READ MORE

Former First Clearing Managing Director of Operations Joins Oyster Consulting

Financial Services consulting firm expands Strategic Planning and Execution Team Bill Davis joins the firm as a Director of Oyster Consulting’s Strategic Planning and Execution team. Bill will enhance the team’s extensive experience and ability to provide strategic consulting on platform conversions, brokerage operations and planning services for advisors, including new product development. Prior to… READ MORE

Municipal Advisors Warned About Compliance Obligations

On November 7, 2017 the SEC Office of Compliance Inspections and Examinations (OCIE) issued a risk alert announcing it had conducted 110 exams of municipal advisors.  The examinations evaluated compliance with regulatory obligations including registration, statutory fiduciary standard of care, fair dealing, record keeping, and supervision. The staff observed that municipal advisors were “generally unfamiliar… READ MORE

Oyster Senior Consultant Harriet Britt Contributes Article to April Issue of NSCP Currents

Oyster Senior Consultant Harriet Britt recently contributed her article, “FINRA Digital Advice and the Robo-World” to the National Society for Compliance Professional’s (NSCP) latest issue of Currents, the organization’s monthly publication for industry professionals.  The article reviews FINRA’s “Report on Digital Advice,” including  supervision of testing algorithms and tools, fees and expenses, investor profiles and… READ MORE

The Department of Labor’s Proposed Fiduciary Rule: How Will It Impact Investment Advisers?

The new Department of Labor (“DOL”) Rule changes the definition of “fiduciary” under the Employee Retirement Income Security Act (“ERISA”), expanding the universe of financial professionals who would be deemed to be fiduciaries. Most of the Rule’s requirements become effective April 10, 2017.  The full disclosure provisions, the policies and procedures requirements, and the contract… READ MORE