SEC Examinations that Focus on Compliance with Regulation Best Interest

The SEC’s Office of Compliance Inspections and Examinations (OCIE) has issued a Risk Alert to provide broker-dealers with information about the scope and content of its initial examinations for compliance with Regulation Best Interest (Reg BI).  For additional information about the requirements of Reg BI, please see our blog entitled SEC Adopts Reg BI. After… READ MORE

New Podcast: 2020 Exam Priorities Letters – Part 1

In case you’re wondering what the regulators will be focusing on this year, they let you know when they publish their annual Exam Priorities Letters. This week’s episode of Oyster Stew is Part 1 in a series discussing the SEC and FINRA 2020 Exam Priorities Letters.  Oyster Consulting CEO Buddy Doyle, Director Evan Rosser and… READ MORE

2020 SEC Examination Priorities Released

The Office of Compliance Inspections and Examinations of the Securities and Exchange Commission (OCIE) released their 2020 Examination Priorities Letter on January 7, 2020.   While every area is important, when you read this in context of prior releases, most of the priorities are the same; however, there are some evolving priorities as well. Regulation Best… READ MORE

Regulators Continue to Focus on Senior Clients in Exams – Are You Ready?

Registered Investment Advisor (RIAs) should expect SEC exams to contain document request lists and specific questions focusing on how they are protecting seniors and vulnerable adults.  In RIA examinations performed this year by the SEC, document request lists and specific questions asked during the onsite interview process reflected the importance the SEC is placing on… READ MORE

FINRA Streamlines Representative Qualification Exams

FINRA is restructuring its Representative level qualification exams (e.g., Series 7 and 79) to eliminate the redundancies that currently exist in the examination process. Beginning October 1, 2018, new representatives will need to take a new exam, the Security Industry Essentials (SIE) exam.  In addition, new representatives will need to take a top-off exam in… READ MORE