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

SEC Adopts Reg BI

The SEC Adopts Regulation Best Interest (Reg BI) and Additional Rules and Interpretations that Address Relationships Between Retail Investors and Investment Professionals Regulation Best Interest On June 5, 2019, the SEC adopted a new rule, referred to as Regulation Best Interest (“Reg BI”), that establishes an express best interest obligation applicable to broker-dealers (“BDs”) when… READ MORE

Reg BI Article Published by Oyster Director Evan Rosser

In April 2018, the SEC presented its long awaited rule proposal Regulation Best Interest (“Reg BI”) as a three-part regulatory package aimed at reforming the way that investment professionals serve retail investors. If enacted as proposed, Reg BI would impose upon broker-dealers an obligation to act in a retail customer’s “best interest” when recommending securities… READ MORE

Share Class Selection – Time is Short to Review Fees and Disclosures

On April 12, the SEC announced its Share Class Selection Disclosure Initiative (SCSD Initiative). Under the SCSD Initiative, “the Enforcement Division will recommend standardized, favorable settlement terms to investment advisers that self-report that they failed to disclose conflicts of interest associated with the receipt of 12b-1 fees by the adviser, its affiliates, or its supervised… 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