Digital Assets – Are You Ready?

The securities and futures industries have a long history of creating, distributing, and trading new and innovative products and asset classes. Innovation is not without risk and successful firms have typically introduced disciplined processes to achieve compliance within existing regulations, even when there are gray areas. For broker-dealers, the suitability rule (2111) is the guiding… READ MORE

Former Wealthcare Capital Management COO Schafer Joins Oyster as Director

Oyster Consulting welcomes Terry Schafer, expanding our Trading and Markets and Operations and Technology practices. The move increases our ability to help broker-dealers and investment advisors translate business, legal and regulatory requirements into workable business policies, processes and technology solutions. Schafer has 30 years of experience in financial services focused on investment banking capital markets,… READ MORE

Supervisory Controls Testing – Is Rule 3120 On Your To-Do List?

The beginning of the year is often a time for getting organized; reviewing and updating your firm’s compliance calendar to include FINRA’s required annual supervisory controls testing and reporting should be on your to-do list.  FINRA Rule 3120 requires broker-dealers to have in place a system of policies and procedures that annually test and verify… READ MORE

AML and OFAC – Will Your AML Program Stand Up to Scrutiny?

It was announced in early November 2016 that $215 million will be paid to New York state by Agricultural Bank of China for engaging in “intentional wrongdoing,” including masking possibly suspicious transactions, at its New York branch. The New York State Department of Finance stated that some transactions involved parties subject to U.S. sanctions.  Red… READ MORE

Attending the FIA Futures & Options Expo in Chicago

Oyster Managing Director Don Horwitz and Director Dean Pelos will be attending the FIA Futures & Options Expo in Chicago, October 18-20, 2016. During his thirty-plus years in the industry, Don Horwitz focused on assisting futures commission merchants (FCMs), broker-dealers, derivatives exchanges and their central counterparty clearinghouses (CCPs). He served as general counsel and/or chief… READ MORE