Compliance Resource Center

 

Through our mailing list and this blog, we provide complimentary articles to support your continued education and keep you abreast of regulatory updates and recommendations. Each year, we provide a compliance calendar of all regulatory deadlines impacting investment advisers and provide monthly reminders via email, when you join our mailing list. To receive future compliance updates in your inbox, sign up here for our mailing list!

Let us know if you would like to see us cover any specific topics!

PRINCIPAL, AGENCY, AND INTERNAL CROSS TRANSACTIONS, OH MY!
Christopher Janisch Christopher Janisch

PRINCIPAL, AGENCY, AND INTERNAL CROSS TRANSACTIONS, OH MY!

Before you read the title and stop because you don’t think this applies to you, keep in mind that claiming NOT to engage in the aforementioned practices, is one of the issues the SEC has found in examinations. If it is your policy not to engage in principal, agency, and/or cross transitions, please at least read the definitions and then jump down to the testing section to consider additional tests to implement as part of your annual review.

Read More
SEC RISK ALERT: WRAP FEE PROGRAMS
Christopher Janisch Christopher Janisch

SEC RISK ALERT: WRAP FEE PROGRAMS

After examining over 100 advisors associated with wrap programs, the SEC found compliance concerns and identified areas where advisors needed to make improvements. The focus of the exams included advisors’ fiduciary duty to the wrap program/sponsors, disclosures to wrap-fee clients, and advisors’ compliance programs. This risk alert noted some examples of best practices, which we will review alongside SCS’s suggestions.

Read More
CONTINUING EDUCATION REQUIREMENTS FOR INVESTMENT ADVISOR REPRESENTATIVES
Christopher Janisch Christopher Janisch

CONTINUING EDUCATION REQUIREMENTS FOR INVESTMENT ADVISOR REPRESENTATIVES

In November 2020 the North American Securities Administrators Association (“NASAA”) adopted a Model Rule, setting guideline requirements for investment advisor representatives (“IARs”) registered with investment advisory firms to complete continuing education requirements in order to maintain licenses in jurisdictions that adopt the rule. This will apply to both state and federally registered advisors.

Read More
COMPLIANT ADVERTISING – BREAKING IT DOWN (AGAIN) PART 4: PERFORMANCE
Christopher Janisch Christopher Janisch

COMPLIANT ADVERTISING – BREAKING IT DOWN (AGAIN) PART 4: PERFORMANCE

Did you know the old Advertising Rule NEVER addressed performance advertising and for years advisers relied primarily on the Clover no-action letter, which was drafted in 1986? The addition of requirements around performance advertising in the updated Marketing Rule is a necessary addition, and the focus of this series.

Read More