This section contains many articles we have written to help advisors understand a variety of topics that relate to compliance and their funds. If you would like to drill down into a particular topic, place your mouse over the Articles link on the left side of the page and a drop down menu of topics will appear. Click on a topic to be taken to a page containing articles relating to only that topic. To display all the articles in the Articles section, click on the Articles link on the left side of the page.
Posted: Wednesday Oct 29, 2014
It's November...Are you Ready?
The end of the year is busy for everyone. Holidays, shopping, family and friends; however, your RIA To-Do List and your compliance calendar checklist should include "RIA Licensing and Renewal". This article serves as a reminder to make sure you are ready. To read it, click on the article's title above.
Posted: Friday Oct 3, 2014
Think your firm is too small or that your firewall and network security are too strong to worry about digital attacks on your firm's and your clients' data? The SEC and FINRA don't think so. Read our latest article on cybersecurity by clicking the article's title above.
Posted: Thursday Jul 17, 2014
On February 20, 2014, the SEC issued a letter announcing a new initiative called the “Never-Before Examined Initiative.” If you are a Registered Investment Adviser (RIA) registered with the Securities and Exchange Commission (SEC) for three years or more and have never been examined by the SEC, you are likely on a list to be examined in the near future. Don’t worry though, because we want to help make sure you are prepared and can support your SEC data request needs.
To read our article, click on the title above.
Posted: Friday Mar 7, 2014
Vince Lombardi, legendary head coach of the NFL’s Green Bay Packers from 1959-67, used to begin every new football season with the same message: Go back to basics. He would stand in front of his players and say, “Gentlemen, this is the football.” It is impossible to get much more basic than that. In this article we are going to go back to the basics of disclosure responsibilities to say: Ladies and Gentlemen, this is an advertisement.
Whether you are crafting a new ad or marketing campaign to promote your firm, or getting ready to send out reports to existing clients, you need to create quality disclosures. It is important to have an understanding of what you need to disclose, especially when it comes to advertising your firm.
Posted: Monday Oct 14, 2013
Living our lives under the SEC’s magnifying glass does little to assuage our proclivity for turning the weatherman’s chance of heavy precipitation into “The sky is falling!” In fact, sometimes it seems as if the SEC is in the business of giving us even more to worry about. They did it again in August, when they issued a Risk Alert focused on business continuity and disaster recovery planning.1 The underlying message of that Risk Alert: There may not be a day after the end of days, but if there is you best have a plan in place to ensure that you will be open for business. The Risk Alert was issued by the SEC’s office of Compliance Inspections and Examinations following a joint advisory report issued by the SEC and other regulators earlier in the month. To continue reading our article, click on the article's title above.
Posted: Thursday Sep 26, 2013
It is dangerous to pick a fight with the SEC. During fiscal year 2012 the SEC posted an impressive 95-1 record in litigated enforcement actions, filed 734 enforcement actions and obtained orders requiring payments of more than $3 billion in penalties and disgorgement. Of the 734 enforcement actions, 147 were filed against investment advisers and investment companies.
SEC examinations focus on all aspects of an advisory firm’s business. As you are out developing your marketing plans and engaging in prospecting and onboarding activities, the SEC is closely scrutinizing your moves. You will want to make sure you have a clearly laid out game plan to follow. If your game plan changes, take a step back and spend a moment to think before you act. Don’t subscribe to the “Ready, Fire, Aim” methodology.
To continue reading our article, click on the article's title above.