5 Things to Know About NASAA’s Model Rules

NASAA published two model rules in November 2020 related to continuing education requirements and written policies and procedures. While each state determines whether to adopt model rules, you should familiarize yourself with the requirements, not just so you can comply, but because some of the requirements are just good business practices. Get ready for more… READ MORE

Protect Your Profits through Compliance, Communication and Education

When it comes to compliance, your revenue stream is only as strong as your regulatory and client relationships.  Making a million in revenue means very little if you pay a $500,000 fine.  How do you protect that revenue? Compliance: Follow the rules and regulations and watch closely to ensure your employees do the same. A… READ MORE

Former First Clearing Managing Director of Operations Joins Oyster Consulting

Financial Services consulting firm expands Strategic Planning and Execution Team Bill Davis joins the firm as a Director of Oyster Consulting’s Strategic Planning and Execution team. Bill will enhance the team’s extensive experience and ability to provide strategic consulting on platform conversions, brokerage operations and planning services for advisors, including new product development. Prior to… READ MORE

SIFMA Regulation Best Interest Vendor Forum – Where Are We Now? (161 days to Implementation!)

Last week, SIFMA hosted a sold-out Reg BI Vendor Forum at its New York Conference Center and Oyster’s consultants attended to receive the most up-to-date information on how our competitors are handling the challenges and client concerns.  This was not a conference where regulators explain their expectations, but industry professionals and vendors discussed dealing with… READ MORE

Senior Consultant Bob Tuch Publishes Senior Safe Act Article

Oyster Consulting Senior Consultant Bob Tuch recently contributed his article, “Protection of Seniors from Financial Exploitation – Congress Enacts the Senior Safe Act” to Practical Compliance & Risk Management for the Securities Industry, a Wolters Kluwer publication.  The Senior Safe Act provides immunity from liability to covered financial institutions and certain employees and representatives of… READ MORE

GDPR: Impacts on American Firms without EU Clients

Confirmation that your firm does not hold any EU resident’s (“data subjects”) data is the first step in complying with the new General Data Protection Regulation (“GDPR”), effective May 25, 2018.  There will still be some decisions and changes awaiting you.  Firms without any EU residents’ data will be impacted in three main ways: deciding if the… READ MORE