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RIA Compliance and Practice Management Blog

November 2019 RIA Compliance Software Innovations

Posted by RIA in a Box

Dec 10, 2019 2:19:05 PM

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 November 29th, 2019

Posted by RIA in a Box

Dec 6, 2019 3:12:02 PM

RIA Compliance Regulatory News

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 Securities and Exchange Commission's ("SEC") proposed amendments to the advertising rule, impacts of the Regulation Best Interest rule ("RegBI"), and the future of robo advice.

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Topics: RIA Operations, RIA Compliance, RIA Technology

Top 2019 NASAA RIA Compliance Deficiencies: Contracts

Posted by RIA in a Box

Dec 2, 2019 9:41:41 AM

2019 state investment adviser compliance deficiencies: contracts

The North American Securities Administrators Association (“NASAA”) has released its 2019 Investment Adviser Coordinated Examinations Report. This report is released on a biennial basis and analyzes the findings from adviser examinations and offers best practices. As RIA compliance consultants, we recommend that the Chief Compliance Officer (“CCO”) of all investment advisory firms review the regulatory exam summary report to determine if any changes should be implemented at their firm as a result of NASAA’s findings.

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Topics: RIA Compliance

RIA Cybersecurity Focus: The Rise of Third-Party Vendors

Posted by RIA in a Box

Nov 27, 2019 9:45:48 AM

Vendor Third Party Vendor Due Diligence for RIA Firms on MyRIAComplianceThe usage of third-party vendors has increased exponentially within the registered investment adviser ("RIA") and broader financial services industry. Many firms are turning to outsourced technology (e.g., financial planning, portfolio management, etc.) and relying on third-parties to execute core business functions to increase efficiency and decrease spend. Within the 2019 RIA in a Box survey of 1,600 registered investment adviser firms, we found approximately 36% of RIA firms utilize at least three or more outsourced technology systems and roughly one-third indicated a need to maintain an inventory of data information for third-party vendors. Unfortunately, the third-party ecosystem is also an ideal entry point for cyber criminals looking to infiltrate RIA firms. This cybersecurity risk increases as firms grow and become more reliant on third-party vendors for a multitude of core business functions. 

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Topics: RIA Compliance, RIA Technology

Top RIA Compliance News Articles for the Week of November 15th, 2019

Posted by RIA in a Box

Nov 22, 2019 3:29:27 PM

RIA Compliance Regulatory News

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 Securities and Exchange Commission's (“SEC”) proposal to expand the definition of "accredited investor," the impacts of Regulation Best Interest ("Reg BI"), and the future of cyber crime. 

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Topics: RIA Operations, RIA Compliance, RIA Technology

SEC RIA Enforcement Actions Increased 77% in the 2019 Fiscal Year

Posted by RIA in a Box

Nov 18, 2019 11:01:35 AM

SEC enforcement actions against RIA firms mutual funds and cybersecurityOn November 6, 2019, the Securities and Exchange Commission ("SEC") released its Division of Enforcement 2019 annual report which highlights the 862 enforcement actions pursued during its most recent fiscal year. This latest annual report shows continued focus from the SEC "on the Main Street Investor" and it seems likely that such focus is unlikely to change in the coming years. During the 2019 fiscal year, the SEC filed 526 stand alone enforcement actions, 210 follow-on administrative proceedings, and 126 enforcement actions related to delinquent filings.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of November 8th, 2019

Posted by RIA in a Box

Nov 15, 2019 2:44:33 PM

RIA Compliance Regulatory News

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 success of the Securities and Exchange Commission's (“SEC”) whistleblower program, the SEC's proposed rewrite of the advertising rule, and the financial exploitation of senior citizens.

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Topics: RIA Operations, RIA Compliance, RIA Technology

Top 2019 NASAA RIA Compliance Deficiencies: Registration

Posted by RIA in a Box

Nov 12, 2019 1:47:20 PM

2017 state investment adviser compliance deficencies: registration

The North American Securities Administrators Association (“NASAA”) has released its 2019 Investment Adviser Coordinated Examinations Report. This report is released on a bi-annual basis and analyzes the findings from adviser examinations and offers best practices. As RIA Compliance Consultants, we recommend that the Chief Compliance Officer (“CCO”) of all investment advisory firms review the regulatory exam summary report to determine if any changes should be implemented at their firm as a result of NASAA’s findings.

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of November 1st, 2019

Posted by RIA in a Box

Nov 8, 2019 4:09:42 PM

RIA Compliance Regulatory News

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 Securities and Exchange Commission’s (“SEC”) proposed changes to the advertising and solicitation rule, 2019 SEC enforcement actions, and proposed proxy rule changes. 

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Topics: RIA Operations, RIA Compliance, RIA Technology

SEC Proposes Significant Changes to Advertising and Solicitation Rules

Posted by RIA in a Box

Nov 6, 2019 11:27:43 AM

SEC Registered Investment AdvisorsOn November 4, 2019, the Securities and Exchange Commission ("SEC") issued a release announcing "it has voted to propose amendments to modernize the rules under the Investment Advisers Act addressing investment adviser advertisements and payments to solicitors." Rule 206(4)-1, commonly referred to as the "Advertising Rule" has not been modified since its adoption in 1961 and Rule 206(4)-3, commonly referred to as the "Cash Solicitation Rule" has not been modified since its adoption in 1979. In recent years, the SEC Office of Compliance Inspections and Examinations ("OCIE") has issued registered investment adviser ("RIA") regulatory risk alerts related to the Advertising Rule and Cash Solicitation Rule. Despite this more recent guidance, the SEC notes that much has changed since the rules were initially adopted. As such, "the proposed amendments are intended to update these rules to reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices."

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Topics: RIA Operations, 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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