RIA Compliance and Practice Management Blog

NASAA Adopts New Model Rule for Investment Adviser Policies and Procedures

Posted by RIA in a Box

Dec 2, 2020 3:23:09 PM

NASAA_Enforcement Cases

On November 24, 2020, North American Securities Administration Association ("NASAA") members voted to adopt a model rule that creates a requirement for a registered investment adviser ("RIA") firm to establish, maintain, and enforce written policies and procedures tailored to the advisory firm's business model.  This new model rule was developed with the the hope of strengthening advisers' already existing manuals, assisting advisers in creating their initial policies and procedures, and emphasizing the importance of the document.

NASAA provides the list of requirements within the model rule and dives deeper into what each requirement entails. A Sample Compliance Grid is also provided for firms to utilize and build their own policies and procedures or to assess and strengthen their current document.

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Topics: RIA Compliance

SEC RIA Compliance Risk Alert Highlights RIA Compliance Rule Issues

Posted by RIA in a Box

Nov 23, 2020 1:56:19 PM

SEC investment adviser risk alert on credential stuffing cyber attacksOn November 19, 2020, the Securities and Exchange Commission (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a new risk alert regarding registered investment adviser ("RIA") compliance deficiencies related to Rule 206(4)-7, also known as the "Compliance Rule", under the Investment Advisers Act of 1940 ("Advisers Act"). Many of the deficiencies center around inadequate policies and procedures which is the primary document that RIA firms should design, implement, and regularly revise to avoid violating the Compliance Rule. 

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Topics: RIA Operations, RIA Compliance

Top RIA Compliance News Articles for the Week of November 13th, 2020

Posted by RIA in a Box

Nov 20, 2020 5:16:56 PM

Top_Compliance_Articles_of_the_week-17Each 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 Securities and Exchange Commission's ("SEC") latest risk alert on the compliance rule, E-signature rules, the Share Class Initiative. Here's our top investment adviser compliance articles for the week of November 13th, 2020:

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Topics: RIA Operations, RIA Compliance, RIA Technology

SEC RIA Enforcement Actions Decreased During the 2020 Fiscal Year

Posted by RIA in a Box

Nov 19, 2020 5:02:28 PM

SEC enforcement actions against RIA firms during COVIDOn November 2, 2020, the Securities and Exchange Commission ("SEC") released its Division of Enforcement 2020 annual report which highlights the 715 enforcement actions pursued during its most recent fiscal year. This latest annual report also shows how the SEC initially responded to COVID-19 and how they are working to uphold the integrity of investors during the global pandemic. In addition, the Commission has continued to focus on "Financial Fraud and Issuer Disclosure" and also saw a record-breaking year for the whistleblower program. During the 2020 fiscal year, the SEC filed 405 stand alone enforcement actions, 180 follow-on administrative proceedings, and 130 enforcement actions related to delinquent filings.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of November 6th, 2020

Posted by RIA in a Box

Nov 13, 2020 4:30:22 PM

Top_Compliance_Articles_of_the_week-17Each 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 Securities and Exchange Commission's ("SEC") latest risk alert on multi branch office risks, the recent growth of the RIA industry, and how beneficial social media can be for advisors. Here's our top investment adviser compliance articles for the week of November 6th, 2020:

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Topics: RIA Operations, RIA Compliance, RIA Technology

SEC RIA Compliance Risk Alert Flags Multi-Branch Office Risks

Posted by RIA in a Box

Nov 10, 2020 5:04:50 PM

SEC investment adviser risk alert on credential stuffing cyber attacksOn November 9, 2020, the Securities and Exchange Commission (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a new risk alert with new information pertaining to a series of exams conducted that focused on registered investment adviser ("RIA") firms operating from numerous branch offices and with operations geographically dispersed from the adviser’s principal or main office, better known as the “Multi-Branch Initiative.” According to the SEC, "This Initiative focused on, among other things, the assessment of the compliance and supervisory practices relating to advisory personnel working within the advisers’ branch offices."

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Topics: RIA Operations, RIA Compliance

Top RIA Compliance News Articles for the Week of October 30th, 2020

Posted by RIA in a Box

Nov 6, 2020 4:22:16 PM

Top_Compliance_Articles_of_the_week-17Each 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 Securities and Exchange Commission's ("SEC") drop in enforcement actions, whether we should hold chief compliance officers ("CCOs") personally liable, and the importance of cybersecurity for investment advisors. Here's our top investment adviser compliance articles for the week of October 30th, 2020:

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Topics: RIA Operations, RIA Compliance, RIA Technology

November 2020 RIA Compliance Software Innovations

Posted by RIA in a Box

Nov 5, 2020 10:55:11 AM

latest RIA compliance software features from RIA in a BoxOne of our company's longstanding commitments is investing time and resources to make the RIA in a Box MyRIACompliance® platform the industry leading compliance technology offering for registered investment adviser ("RIA") firms. We put the client first by delivering innovative software and expert advice. Since 2005 we take pride in partnering with our clients to establish and support the highest quality registered investment adviser firms in the country.  At RIA in a Box, we release new MyRIACompliance® software features and enhancements on a daily basis to meet the growing compliance challenges that investment advisers continue to confront. 

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Topics: RIA Compliance, RIA Technology

Top RIA Compliance News Articles for the Week of October 23rd, 2020

Posted by RIA in a Box

Oct 30, 2020 4:44:02 PM

Top_Compliance_Articles_of_the_week-17Each 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 Securities and Exchange Commission's ("SEC") Regulation Best Interest ("Reg BI") roundtable, implementing zero-trust cybersecurity, and what a post-COVID world may look like for advisors. Here's our top investment adviser compliance articles for the week of October 23rd, 2020:

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Topics: RIA Operations, RIA Compliance, RIA Technology

The 2020-2021 Annual RIA Firm Registration Renewal Season Has Arrived

Posted by RIA in a Box

Oct 27, 2020 4:39:59 PM

RIA Form ADV Renewal Process 2020-2021On November 16, 2020, the preliminary renewal statement for every registered investment adviser ("RIA") firm will be posted on the Investment Adviser Registration Depository ("IARD") website. Renewal statements are only available online via the IARD website; they are not physically mailed to firms. If an RIA firm was registered in 2020, the firm is still required to pay the proper renewal fees. A firm’s registration will be terminated if they fail to pay renewal fees to the proper jurisdiction(s).

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Topics: RIA Compliance

RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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