Former FTB Advisors CCO Joins Oyster Consulting

  Oyster responds to industry need for operations and compliance experts   Nikki Brinkerhoff recently joined Oyster Consulting as an Associate Director, expanding Oyster’s Operations and Compliance practices. The move increases the firm’s ability to help industry members optimize operations and compliance functions, as well as design and implement technology solutions to improve operational excellence, improve… READ MORE

Senior Consultant Bob Tuch Publishes Senior Safe Act Article

Oyster Consulting Senior Consultant Bob Tuch recently contributed his article, “Protection of Seniors from Financial Exploitation – Congress Enacts the Senior Safe Act” to Practical Compliance & Risk Management for the Securities Industry, a Wolters Kluwer publication.  The Senior Safe Act provides immunity from liability to covered financial institutions and certain employees and representatives of… READ MORE

New FINRA Registration Categories Effective October 1st

In addition to the changes to its Principal Financial Officer and Principal Operations Officer designations, FINRA is establishing three new registration categories:  Compliance Officer, Investment Banking Principal, and Private Securities Offering Principal. These categories become effective October 1, 2018. All Chief Compliance Officers (CCOs) on Schedule A of the Form BD will have the CCO… READ MORE

Act Now – FINOP Changes Required October 1

FINRA is changing its registration requirements for Chief Financial Officers (CFOs) and Chief Operating Officers (COOs).  The new registration rules take effect October 1, 2018. It is more than just a title change.  The requirement for certain firms to have a CFO/COO (requiring Series 27/28 licensing) is being applied to ALL firms, and the registration… READ MORE

Ready or Not – May 11th FINRA Customer Due Diligence Requirements Are Here

FINRA recently published an updated version of its Small Firm Template: Anti-Money Laundering (AML) Program to address amended broker-dealer requirements under FINRA Rule 3310 and the Bank Secrecy Act (“BSA”).  The amended Rule reflects the Treasury Department’s Financial Crimes Enforcement Network’s (“FinCEN”) adoption of the final rule, referred to as the Customer Due Diligence (“CDD”)… READ MORE

SEC Posts 2018 Exam Priorities

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released its 2018 National Exam Program examination priorities yesterday. While most of the topics are familiar, there are a few new items of note. OCIE has divided its priorities into four categories: Retail investors including Seniors and those saving for retirement “Disclosures of the Costs of… READ MORE

Recording Available: Starting Your Own RIA and Going Independent – What You Need to Know

Have you been considering whether now is the right time to open a Registered Investment Advisor (“RIA”)?  Navigating the complex regulatory requirements, making operational and technology decisions, and developing the financial analysis to know what the future holds may seem daunting. There are people willing to help you make an informed decision.  We invite you… READ MORE