RIA Compliance and Practice Management Blog

Top RIA Compliance News Articles for the Week of April 15, 2017

Posted by RIA in a Box

Apr 21, 2017 2:38:22 PM

Vanguard and Morningstar DOL fiduciary rule comments

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on various industry constituents chiming in on the latest Department of Labor ("DOL") fiduciary rule delay. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

How RIA Compliance Software Helps to Manage and Document Compliance

Posted by RIA in a Box

Apr 20, 2017 10:36:02 AM

key features of RIA compliance software including compliance calendar

The Chief Compliance Officer (“CCO”) of a registered investment adviser (“RIA”) firm understands the challenge that comes with keeping up to date on the latest regulatory changes while also ensuring that all daily, weekly, monthly, and annual compliance tasks are completed. However, just completing the required tasks is often insufficient. All completed tasks need to be properly documented to be able to demonstrate the proper implementation of a compliance program during a regulatory audit.

Historically, many RIA firms have chosen to leverage manual processes for creating a compliance calendar of activities, for documenting internal compliance and best execution reviews, and for managing the collection of employee attestations or outside business activity requests, to name a few. While some firms have leveraged traditional technology such as a Microsoft Excel spreadsheet, many firms still utilize pen and paper for a significant portion of compliance documentation. For firms large and small, manual processes mean more paperwork, more risk for mistakes, and less centralization. While Excel may offer relative benefits compared to pen and paper, it’s not specifically designed to be RIA compliance software and thus requires a tremendous time investment to customize from scratch.

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Topics: RIA Operations, RIA Compliance, RIA Technology

Top RIA Compliance News Articles for the Week of April 8, 2017

Posted by RIA in a Box

Apr 14, 2017 11:39:19 AM

Leave an RIA firm to start an independent RIA firm

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the Department of Labor ("DOL") fiduciary rule, succession planning, and the latest phase of the "breakaway broker" movement. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

Does New York DFS Cybersecurity Rule (23 NYCRR 500) impact RIA Firms?

Posted by RIA in a Box

Apr 10, 2017 3:00:23 PM

New York Cybersecurity Law (23 NYCRR 500) for RIA FirmsOn February 16, 2017, the state of New York Department of Financial Services ("NYDFS") finalized its new cybersecurity rule ("23 NYCRR 500") which creates new information security requirements for a "Covered Entity" under NYDFS supervision. This new detailed regulation includes requirements to appoint a Chief Information Security Officer ("CISO"), to implement and maintain a written cybersecurity policy, and more. 
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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of April 1, 2017

Posted by RIA in a Box

Apr 7, 2017 1:46:47 PM

DOL rule officially delayed until June 9, 2017 and future of Dodd-Frank

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the offical delay of the Department of Labor ("DOL") fiduciary rule and the future of Dodd-Frank. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

The DOL Fiduciary Rule for RIA Firms is Officially Delayed for 60 Days

Posted by RIA in a Box

Apr 4, 2017 6:48:07 PM

DOL fiduciary rule for RIA firms is officially delayed to June 9, 2017Today, the Department of Labor ("DOL") confirmed that it will publish a 60 day delay to the applicability date of the fiduciary rule in the Federal Register as required. This expected action delays the applicability date from the original April 10, 2017 date to the new date of June 9, 2017. However, there is still a strong likelihood that the rule's applicability date may be further delayed in the coming months. This official announcement follows recent developments that had already delayed the rule's applicability date in "practice" including a temporary enforcement policy field assistance bulletin issued by the DOL on March 10, 2017 followed by similar guidance issued by the Internal Revenue Service ("IRS") on March 28, 2017. As has been our stance in recent months, we believe registered investment adviser ("RIA") firms should continue to prepare to comply with the rule but to wait to implement any changes until there is more clarity. 
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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of March 25, 2017

Posted by RIA in a Box

Mar 31, 2017 2:34:15 PM

DOL rule delayed and breakaway broker considerations

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the current status of the Department of Labor ("DOL") fiduciary rule, breakaway broker considerations, and senior protection. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

2017 RIA Technology Landscape Infographic is Released

Posted by RIA in a Box

Mar 27, 2017 10:16:00 AM

Today, we officially released our updated 2017 RIA technology landscape infographic. In addition to the 110 featured technology vendors serving registered investment adviser ("RIA") firms, the infographic includes key findings from the 2016 RIA in a Box investment adviser technology and operations survey of over 1,000 firms.

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Topics: RIA Operations, RIA Technology

Top RIA Compliance News Articles for the Week of March 18, 2017

Posted by RIA in a Box

Mar 24, 2017 7:24:57 PM

IAA DOL fiduciary rule delay and 3rd party audits

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the current status of the Department of Labor ("DOL") fiduciary rule, the future of Dodd-Frank, and cybersecurity. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

The DOL Fiduciary Rule for RIA Firms: Where it Stands Today

Posted by RIA in a Box

Mar 20, 2017 8:44:59 AM

DOL has delayed the applicability date of the DOL fiduciary rule for RIA firmsAs of today, compliance with the Department of Labor ("DOL") fiduciary rule is still scheduled to be required on April 10, 2017. However, there are a number of recent developments that have already delayed the rule's applicability date in "practice" and more to come shortly that will likely "officially" delay the rule's implementation date. In this latest blog post, we take a look at recent events impacting the rule's future including President Donald Trump's memorandum seeking a review of the rule, a proposal submitted by the DOL to delay the rule's applicability date, and a temporary enforcement policy field assistance bulletin issued by the DOL. Last week, in our latest client webinar on the fiduciary rule, we advised all of our registered investment adviser ("RIA") firm clients to continue to prepare to comply with the rule but to wait to implement any changes until there is more clarity. 
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Topics: RIA Compliance

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