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SEC Risk Alert Flags Most Common RIA Cash Solicitation Issues

Posted by RIA in a Box

Nov 5, 2018 9:15:00 AM

SEC Risk Alert-1On October 31, 2018, the Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") released a new National Exam Program Risk Alert outlining the most common registered investment adviser ("RIA") compliance issues related to Rule 206(4)-3 (the “Cash Solicitation Rule”). SEC OCIE staff notes an investment adviser required to registered under the Investment Advisers Act of 1940 (the "Advisers Act") "is prohibited from paying a cash fee, directly or indirectly, to any person who solicits clients for the adviser (a “solicitor”) unless the arrangement complies with a number of conditions." In particular, this risk alert provides examples of the most common regulatory compliance deficiencies related to the cash solicitation rule as observed by SEC OCIE staff during recent regulatory examinations.

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Topics: RIA Compliance, RIA Operations

Top RIA Compliance News Articles for the Week of October 26, 2018

Posted by RIA in a Box

Nov 2, 2018 7:41:17 PM

Final SEC rule Reg BI

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 succession planning, lessons learned while setting up an RIA firm, and the Securities and Exchange Commission ("SEC") Regulation Best Interest ("Reg BI") proposal. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

How MyRIACompliance Software Integrates with Redtail CRM

Posted by RIA in a Box

Oct 29, 2018 1:34:47 PM

Redtail RIA CRM complianceRegistered investment adviser ("RIA") firms utilizing our MyRIACompliance RIA compliance software platform benefit from our integration with Redtail which is the leading customer relationship manager ("CRM) software provider to investment advisers. The integration allows a joint Redtail and RIA in Box MyRIACompliance client to view and complete tailored regulatory compliance tasks all within the Redtail CRM calendar system. MyRIACompliance helps to programmatically deliver firm-specific compliance tasks utilizing the firm’s Form ADV and other proprietary data directly into the Redtail CRM system. 

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Topics: RIA Compliance, RIA Operations, RIA Technology

Top RIA Compliance News Articles for the Week of October 19, 2018

Posted by RIA in a Box

Oct 26, 2018 12:31:53 PM

Ron Carson succcession planning

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 increased enforcement actions against RIAs, succession planning, and the Securities and Exchange Commission ("SEC") Best Interest Proposal. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

The 2018-2019 Annual RIA Firm Registration Renewal Season Has Arrived

Posted by RIA in a Box

Oct 23, 2018 2:14:24 PM

RIA IARD Preliminary Fees AvailableOn November 12, 2018, the preliminary renewal statement for every registered investment adviser ("RIA") firm will be posted on the Investment Adviser Registration Depository ("IARD") website. A firm’s failure to pay renewal fees to the proper jurisdiction(s) will result in the termination of the firm’s registration. It's also important to note that renewal statements are not mailed to firms as statements are only available online via the IARD website. Even if an RIA firm was first registered in 2018, the investment advisory firm is still required to pay the proper renewal fees this year.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of October 12, 2018

Posted by RIA in a Box

Oct 19, 2018 5:10:39 PM

NASAA RIA cyber security model rule

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 cybersecurity, compliance supervision responsibilities around archiving mobile communication with clients, and the North American Securities Administrators Association ("NASAA") enforcement report. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

RIA Compliance Insights from the 2018 NASAA Enforcement Report

Posted by RIA in a Box

Oct 16, 2018 11:08:00 AM

NASAA_Enforcement CasesOn October 10, 2018, the North American Securities Administrators Association ("NASAA") released its 2018 enforcement report which summarizes securities industry enforcement actions at the state level across the country. The report looks at actions take against broker dealer firms and individual registered representatives, registered investment adviser ("RIA") firms and individual adviser representatives, and unregistered firms and individuals. This most recent annual report details 4,790 investigations leading to 2,105 enforcement actions overall across 51 jurisdictions at the state level. While the report shows that more enforcement actions were taken against unregistered individuals and firms compared to registered broker dealer and RIA firms, there are still relevant insights for RIA firms to review in order to help improve their compliance programs.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of October 5, 2018

Posted by RIA in a Box

Oct 12, 2018 5:24:18 PM

NASAA RIA cyber security model rule

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 increased number RIA enforcement actions in 2017, budget challenges with the Securities and Exchange Commission ("SEC") RIA examination program, and the benefits of financial planning.. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

When does an RIA firm need to file a Form 13F with the SEC?

Posted by RIA in a Box

Oct 8, 2018 3:17:19 PM

Investment adviser 13F Edgar filing assistanceThe primary regulatory filing requirement for a registered investment adviser ("RIA") firm is the Form ADV. The Form ADV Part 1 and Part 2 is filed via the online Investment Adviser Registration Depository ("IARD") system. However, as we have previously discussed, some RIA firms may also need to submit additional filings such as the Section 13(d), 13(f), 13(g), 13(h), or Form 3,4, or 5. These additional filings are submitted to the Securities and Exchange Commission ("SEC") via the Electronic Data Gathering, Analysis, and Retrieval ("EDGAR") system. In this post, we highlight when an RIA firm may be required to submit a Form 13F filing to the SEC.
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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of September 28, 2018

Posted by RIA in a Box

Oct 5, 2018 3:11:36 PM

NASAA RIA cyber security model rule

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 more new RIA firms being started, cybersecurity, and increased Securities and Exchange Commission ("SEC") examination focus around advisor rollover fees. Check back each week for the latest list of top stories.

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Topics: RIA Compliance

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