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

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

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

Passage of the Senior Safe Act Will Provide Protection for Senior Investors

The Senior Safe Act (SSA) has been signed into law to provide protection for senior citizens from financial exploitation.  The SSA is designed to enable investment professionals and others to work more effectively with law enforcement officials by protecting them from liability when suspected financial exploitation is reported under the circumstances described below. The SSA… READ MORE

SEC Fiduciary Standards Update

The SEC Proposes Rules and Interpretations to Address Relationships Between Retail Investors and Investment Professionals The Securities and Exchange Commission (Commission) has been considering issues relating to retail investor relationships with investment professionals for several years.  A study was undertaken following passage of the Dodd-Frank Act, resulting in certain recommendations in a 2011 report.  However,… READ MORE

Webinar: A Fiduciary Rule Update – Where Are We Now?

Wondering what is happening with the DOL Fiduciary Rule? Want to know what other firms are doing?    Oyster Consulting is committed to helping the industry be prepared. Join our 45-minute webinar on November 8, 2017 as our experts discuss  these and other topics: The status of the latest DOL delay request How RIAs have… READ MORE