Former Pershing Managing Director Joins Oyster Consulting

Financial Services consulting firm expands strategic consulting talent   Oyster welcomes Jim Roth to the firm as a Managing Director of our Strategic Planning and Execution team. With over 30 years of experience in the financial services industry, Jim’s extensive knowledge of the clearing and custody space, as well as his ability to provide customized… READ MORE

The Custody Dilemma for Digital Assets

There are many questions that must be answered to understand the risks for broker-dealers and investment advisors who are considering a business mix that includes digital assets. Examples that hit at the core of how firms operate are custody for investment advisors and a similar topic of possession and control for broker-dealers. Unfortunately, for those… READ MORE

Former Robert W. Baird Director Joins Oyster Consulting

Financial Services consulting firm responds to industry need for strategic clearing, operations management Oyster Consulting announced today that Mary Jane Phillips joins the firm as an Associate Director, expanding Oyster’s Strategic Management and Operations and Technology practices. The move increases the firm’s ability to help broker-dealers and investment advisors optimize operations, automate processes, explore clearing… READ MORE

Alert – SEC Issues Guidance Update on Inadvertent Custody

The SEC’s Division of Investment Management issued a February 2017 Guidance Update regarding situations where an adviser might inadvertently have custody. The key takeaway is that the definition of “custody” is to review agreements with qualified custodians to determine if they give an advisor the ability to withdraw or transfer client funds or securities.  If… READ MORE

Standing Letters of Authorization Clarity Provided

  Standing Letters of Authorization (SLOA) that Registered Investment Advisers use to provide services for their clients have been surrounded by uncertainty.  Does this practice constitute custody of client assets?  In a No-Action Letter dated Feb. 21, the SEC states this practice is, in fact, custody; however, the Division of Investment Management will NOT recommend… READ MORE