Operational Efficiency – Software and Outsourcing Can Help

To remain competitive, firms must boost operational efficiency to cut costs and deliver consistent quality customer service. For financial services firms, this includes developing and refining procedures to help mitigate risk to protect you and your clients.  For CCOs, efficient and effective procedures create consistency and reduce risk. What You Should Do: Conduct a review… READ MORE

The Challenge of Complying with Multiple and Differing Fiduciary Rules

For nearly eight decades, financial advisors[1] have been subject to federal and state securities laws, regulations and SRO rules regulating the type of service they provide to clients – investment advice, brokerage transactions, the sale of insurance products, and other services.  The most recently enacted federal regulation – the Department of Labor fiduciary rule —… READ MORE

Political Contributions – Managing the Pay to Play Rule

If you live in the United States, it is impossible to avoid the constant chatter about the upcoming Presidential elections. And as the weather warms, the local and state elections are starting to heat up too. It is also a good time for advisors to remind employees of their obligations under MSRB Rule G-37 and… 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

Reg SCI Compliance is a Good Idea for Everyone, Not Just Exchanges

What’s Happening: Remember Regulation SCI? Unless you are an exchange or a systemically important market participant, the answer is “probably not.” You’ve undoubtedly heard of the “Flash Crash” of 2010, or maybe the Nasdaq system problem that messed up the Facebook IPO, or the “glitch” on July 8, 2015 that halted trading on the NYSE…. READ MORE

Hedge Fund Investor Group AOI Publishes Best Practice Principles

Hedge Fund Investor Group AOI Publishes Best Practice Principles Alignment of Interest Association (“AOI”) recently published guidelines to serve as a platform for discussion among hedge fund industry participants. Formed in 2008, AOI is an informal group of like-minded institutional investors who want fairer terms from hedge fund managers. Membership to the group is restricted… READ MORE