RIA Compliance Program Review | Oyster Consulting

Starting An RIA – What You Need To Know Before You Go

July 24, 2024

Starting An RIA Starting a Registered Investment Advisor (RIA) is an exciting journey, whether you’re breaking away from another firm or venturing out on your own for the first time. However, there are fundamental aspects you must understand before taking this step. Our podcast delves into the critical elements that can make or break your […]

Election Year Essentials: Your Guide to Pay-to-Play Regulations

July 23, 2024

Understanding “Pay-to-Play Rules” In an election year, financial professionals are often inundated with pleas for political support. Compliance and supervision teams need to be diligent about monitoring and recording campaign contributions to protect their firms’ ability to solicit or serve governmental clients. While the so-called “Pay-to-Play” rules aren’t new, the contribution limits are arguably low […]

The RIA Compliance Roadmap

July 16, 2024

In the world of finance and investments, registered investment advisers (RIAs) play a crucial role in managing assets and providing financial advice to clients. To ensure transparency, integrity, and adherence to regulatory standards, RIAs are required to establish robust compliance programs. These programs not only help in complying with the investment Advisers Act of 1940 […]

The Ultimate Guide to DOL Investment Advice Requirements

June 10, 2024

The long and winding road in defining fiduciary investment advice and the requirements of the prohibited transaction exemptions under ERISA continues. At the end of April of 2024, the Department of Labor (DOL) published its final Retirement Security Rule and amendments to Prohibited Transaction Exemption Guidelines 2020-02 and 84-24. Taken together, these requirements will shape […]

SEC Amendments to Regulation S-P

May 29, 2024

Overview of Amendments to Regulation S-P On May 15, 2024, the SEC announced amendments to Regulation S-P. Generally, Reg S-P requires all firms to adopt written policies and procedures that address administrative, technical, and physical safeguards for the protection of customer records and information. The amended rule requires all broker-dealers, registered investment advisors, investment companies, […]

NASAA Enforcement Report: A Surge Of Investigations, Scams

April 2, 2024

The North American Securities Administrators Association (NASAA) recently released its 2023 NASAA Enforcement Report, based on data provided by 48 U.S states and territories. The report found a significant increase in the number of investigations regarding internet, social media and digital assets matters. Rise in Internet, Social Media, and Digital Asset Scams NASAA’s report details a […]

Cyber Risk Management: Insights for CCOs

March 21, 2024

In today’s episode of the Oyster Stew podcast, Oyster experts Len Derus and Tim Buckler delve into a crucial topic: Regulator expectations and observations regarding cyber risk management. Learn more about the responsibilities of Chief Compliance Officers (CCOs) and what the regulatory focus on cybersecurity means for compliance programs. Regulatory Focus – Cybersecurity Compliance As […]

Safeguarding Investments In The Age Of Artificial Intelligence

February 27, 2024

In January 2024, the SEC, FINRA and NASAA issued an investor alert in response to an increasing number of investment frauds involving the use of artificial intelligence (AI) and other emerging technologies. The regulators noted four particular areas of concern to keep investors, and especially senior investors, safe from these frauds. The intent of the […]

FinCEN AML Proposal: Impacts to Investment Advisor Resources

February 22, 2024

The landscape of financial regulation is set to change significantly. The Financial Crimes Enforcement Network’s (FinCEN) February 2024 proposed rule under the Bank Secrecy Act designates registered investment advisors (RIAs) and exempt reporting advisors (ERAs) as “financial institutions.” The proposed rule is designed to bring these firms into compliance with anti-money laundering (AML) and counter-terrorism […]

Cryptocurrency: Lessons From The Fall Of FTX

February 7, 2024

‍The fall of FTX (Futures Exchange) serves as a cautionary tale. From its meteoric rise to its swift descent into insolvency, FTX’s journey offers us valuable insights into the world of cryptocurrency, corporate governance, and investment decision-making. The lessons learned can be applied to broker-dealers, RIAs, and any regulated entity. As history has taught us, […]

Compliance Across The Industry

January 25, 2024

In today’s Oyster Stew podcast, our panel of Oyster compliance experts—Lisa Robinson, Len Derus, Bryan Jacobsen, and Brent Nicks—explore recurring compliance issues from 2023 and guide you through the process of closing existing compliance gaps. Our consultants provide valuable perspectives and what we heard from our clients on key regulatory areas: Additional Wealth Management Compliance […]

Reg BI Enforcement Surge Continues

January 17, 2024

It is clear that securities regulators have stepped up their oversight of Regulation Best Interest (Reg BI). The number of enforcement actions and large fines against individuals and firms that violate sales practice rules has increased and are expected to continue to grow in 2024. FINRA brought over 20 Reg BI actions 2023 after eight […]

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